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)

Chart of the Day

Simpler conference call language makes for better returns.