Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at whether there is a fundamental reason for value’s underperformance.

Quote of the Day

"However, being as objective as I can be, there is little doubt that toward the end of his life, Graham was suggesting a more automatic, diversified, even lazy approach to investing."

(Drew Dickson)

Chart of the Day

What an adjusted CAPE ratio shows today.