Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at how to replicate venture capital returns with public securities.

Quote of the Day

"Investors rely on historical references (and the forecasts they foster) because they fear that without them they’d be flying blind. But that doesn’t make them reliable."

(Howard Marks)

Chart of the Day

How bad is the drawdown in the 60/40 portfolio?