Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at what happens to companies after a bout of hedge fund activism.
Quote of the Day
"It is worth thinking beyond a business cycle to classify a longer era or period."
(Mark Rzepczynski)
Retail
- Kris Abdelmessih, "Options trading is high margin for the brokerage. A mirror of what it looks like for the client." (moontowermeta.com)
- Are retail investors to blame for stock market seasonality? (papers.ssrn.com)
Behavior
- More information makes us overconfident. (klementoninvesting.substack.com)
- Just because you can Google something doesn't mean you understand it. (marketwatch.com)
- People invest more after getting broadband access. (klementoninvesting.substack.com)
Value
- Value is still cheap relative to growth. (gmo.com)
- Why value investing works: fewer earnings disappointments. (mailchi.mp)
Research
- More evidence in favor of momentum, including emerging markets. (alphaarchitect.com)
- On conference calls pay attention to analysts not CEOs. (ft.com)
- Why you can't ignore trading costs when building a trading system. (research.macrosynergy.com)
- A round-up of recent research on interest rates and inflation. (capitalspectator.com)
- Passive investing still has more room to run. (evidenceinvestor.com)
- How millionaires invest. (alphaarchitect.com)
