Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the headwinds facing private equity returns.
Quote of the Day
"The overwhelming body of evidence demonstrates that active investing, whether in mutual funds or hedge funds, has been a loser’s game. It’s a game that is possible to win but whose odds are so poor it’s not prudent to try."
(Larry Swedroe)
Research
- Why U.S. market data could mislead researchers. (klementoninvesting.substack.com)
- On the downside of index sampling vs full replication. (evidenceinvestor.com)
- Biotech sector funds are another argument for passive investing. (insights.factorresearch.com)
- Why a single measure of quality will underperform a composite measure. (klementoninvesting.substack.com)
- Comparing various tail risk hedging strategies, including trend following. (alphaarchitect.com)
- Carbon emissions are getting absorbed into equity prices. (papers.ssrn.com)