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 use trend following to trade Bitcoin.
Quote of the Day
"It is easy looking at historic underperformance on a screen before we invest; living through it is an entirely different proposition."(Joe Wiggins)
Chart of the Day
Value is winning the ‘factor Olympics’ YTD.
- The case for portfolio rebalancing. (blog.validea.com)
- Under what circumstances does dollar-cost averaging fail? (ofdollarsanddata.com)
- Active investing require more patience than most investors possess. (evidenceinvestor.com)
- How using factors in sovereign bond markets work. (papers.ssrn.com)
- How time horizon affects the low vol anomaly. (alphaarchitect.com)
- More evidence that passive, low cost ETFs trump active funds. (alphaarchitect.com)
- Overconfidence and the use of margin. (klementoninvesting.substack.com)
- IRR is a flawed measure of PE performance. Is PME any better? (blogs.cfainstitute.org)
- There's little information in market news these days. (klementoninvesting.substack.com)
- A round-up of recent white papers including 'What is ESG? Depends on Whom You Ask.' (bpsandpieces.com)