Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at how inflation affects asset class returns.
Quote of the Day
"These days, most market scholars believe that stock market volatility arises mostly from changes in how much people value future earnings, rather than from changes in the expected future earnings themselves."
(Victor Haghani and James White)
Behavior
- An overconfident CFO and CEO is a bad combination. (papers.ssrn.com)
- More democratic teams generate better performance. (institutionalinvestor.com)
- The evidence is growing against the idea that positive emotions top out with income growth. (psycnet.apa.org)
Analysts
- Analysts 'top picks' outperform their average picks. (klementoninvesting.substack.com)
- Negative media attention can prompt credit rating downgrades. (papers.ssrn.com)
Interest rates
- TIPS returns are not guaranteed year to year. (portfoliocharts.com)
- What is the relationship between interest rates and REIT prices? (evidenceinvestor.com)
Research
- Investors who want leverage are going to find a way. (alphaarchitect.com)
- It takes critical mass to close some price discrepancies. (papers.ssrn.com)
- What is a 'real annuity' and how can you create it? (elmwealth.com)
- What happens to companies after a bout of hedge fund activism? (papers.ssrn.com)
- A round-up of the past month's best white papers including 'REIT Volatility as Friend, Not Foe.' (bpsandpieces.com)
