Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at who is most vulnerable to financial BS.
Quote of the Day
"The successful trader is much more like the entrepreneur than the manufacturer of widgets. Identifying and adapting to changing markets is central to success."
(Brett Steenbarger)
Active management
- Putting a dollar value on the opportunity cost from investing in equity mutual funds. (papers.ssrn.com)
- Active share doesn't tell us much about future performance. (evidenceinvestor.com)
C-suite
- How female CFOs are viewed/treated differently. (alphaarchitect.com)
- Pay attention to shares that insiders continue to hold. (alphaarchitect.com)
- How company management can affect shareholder value via capital allocation decisions. (morganstanley.com)
Research
- Successful market timing is pretty much indistinguishable from luck. (ofdollarsanddata.com)
- The math behind leveraged ETFs and why they are not suitable for long holding periods. (moontowermeta.com)
- The case for equal-weighting a large cap value strategy. (advisorperspectives.com)
- Does excluding super-expensive stocks affect momentum strategy returns? (alphaarchitect.com)
- The slope of the yield curve around the world matters for U.S. recessions. (papers.ssrn.com)
- Investors need to get paid to skewness risk. (papers.ssrn.com)
