Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at why quant models involve a fair amount of discretion.

Quote of the Day

"A high Sharpe ratio is a simulacrum of success. Yet what gets measured may have no relationship to what we really want to know."

(Richard Wiggins)

Chart of the Day

Momentum tail risk events are a not a rarity.