Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the role Bitcoin can play in a diversified portfolio.
Quote of the Day
"The current bleak environment does not bode well for active managers. We recall that 2020 was characterized by relatively favorable conditions for stock selection, and most active managers still underperformed, proving that genuine stock selection skill is rare. "
(Anu Ganti)
Behavior
- Narcissistic CEOs love to make deals. (klementoninvesting.substack.com)
- On the psychology of savings including the importance of 'prevention goals.' (morningstar.com)
- Airbnb hosts often let fandom get in the way of bookings. (wsj.com)
Research
- What is return stacking? (rcmalternatives.com)
- Are stock markets still getting more correlated over time? (insights.factorresearch.com)
- Small value underperforms when high yield spreads are tight. (mailchi.mp)
- A look at the type of mutual funds that close, think young and small. (morningstar.com)
- Why you should be skeptical of asset management research. (papers.ssrn.com)
