Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out including a look at the difference between long-short and long-only factor return strategies.

Quote of the Day

"The responsible voice in our head tells us that a strategy of doing nothing can’t possibly work. Yet, markets repeatedly upend our expectations, which we often form by attempting to decode recent events and their future implications."

(Jeff Ptak)

Chart of the Day

Skewed returns put concentrated portfolios at risk of underperformance.