Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at when ETF tax-efficiency can go wrong.

Quote of the Day

"While quants thoroughly test the algorithmic decisions their models make, they tend not to apply the same objective and rigorous analysis to their human decisions."

(Clare Flynn Levy)

Chart of the Day

In a down year, every technical indicator is going to outperform buy-and-hold.