Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the performance of the average stock during a big bull market.
Quote of the Day
“Most ESG investing is little more than a marketing trick. The message is not ‘ignore ESG’ but rather ‘do not buy the narrative of ESG outperformance’.”
(Sonny Kapoor)
Research round-ups
- A review of best white papers from the past month including 'Process Makes Perfect.' (bpsandpieces.com)
- Some recent research papers on interest rates and the yield curve including 'Beyond the Yield Curve: Understanding the Effect of FOMC Announcements on the Stock Market.' (capitalspectator.com)
Behavior
- Weather affects mood - even for portfolio managers and analysts. (institutionalinvestor.com)
- Myopic loss aversion is seen in lab settings as well. (papers.ssrn.com)
Research
- Low vol shouldn't work, but it does. (blog.validea.com)
- The stock market may not be a pure random walk, but you should ask as it is. (theirrelevantinvestor.com)
- The Aggregate Investor Allocation to Equities does a better job than other more popular market valuation measures. (alphaarchitect.com)
- Broad-based and thematic ETFs are segmented markets. (alphaarchitect.com)
- Greater founder power is one reason behind the rise of dual-class share IPOs. (clsbluesky.law.columbia.edu)
- Adapting to a world bent on falsifying the past. (abnormalreturns.com)
