Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out including a look at the difference between a hedge and diversification.

Quote of the Day

"The thing to know about returns is that they are extremely sensitive to the period you are analyzing. Even 50 years of stock data may not tell you very much."

(Allison Schrager)

Chart of the Day

Adjusted for economic conditions, Americans are historically glum.