Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the historic returns of SPACs.

Quote of the Day

"High-active-share funds are relatively expensive and have shown an undesirable risk profile over the long run."

(Robby Greengold)

Chart of the Day

The U.S. stock market indeed does look expensive relative to the rest of the world.