Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at how to skeptically look at how fund performance is presented.
Quote of the Day
"Edge is scarce. When we prospect for it, we should expect to mostly find fool’s gold."
(Kris Abdelmessih)
Chart of the Day
“There aren’t many strong arguments for specialty funds.” – John Rekenthaler
Analysts
- Why analysts who looked solely at money supply got inflation so wrong. (insights.factorresearch.com)
- Cherry-picking chart start dates is the refuge of wannabe gurus. (priceactionlab.com)
Research
- Historically value stocks have outperformed during periods of higher inflation. (alphaarchitect.com)
- Crowded trades are bad, the challenge is measuring them. (mrzepczynski.blogspot.com)
- On the importance of how factor portfolios are built, i.e. concentration-wise. (alphaarchitect.com)
- The latest from MIchael Mauboussin "Market-Expected Return on Investment: Bridging Accounting and Valuation." (morganstanley.com)
- What investor-friendly SPACs look like. (allaboutalpha.com)
- High economic stakes don't de-bias participants. (papers.ssrn.com)
- What triggers stock market jumps? (nber.org)
