Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at why investing for the long run doesn’t eliminate risk.
Quote of the Day
"The reason that risk is so difficult to define in investing is the fact that its definition can’t be disentangled from the person who is taking that risk."
(Jack Forehand)
Research
- True value-focused mutual funds are few in number. (alphaarchitect.com)
- The evidence around activist hedge funds is pretty weak. (institutionalinvestor.com)
- Do analysts follow the academic literature? (alphaarchitect.com)
- A deep dive into randomness, mean reversion and the importance of geometric returns. (breakingthemarket.com)
- How big an issue replicability in finance? (mathinvestor.org)
