Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at the efficacy of stock circuit beakers.
Quote of the Day
"Investors who have learned about a stock in a bear market show no overoptimism and no inherent bias towards being bullish stocks."
(Joachim Klement)
Quant stuff
- James Picerno, "In short, there are no silver bullets for building a solid backtest." (capitalspectator.com)
- How ChatGPT can suss out information in company filings. (marginalrevolution.com)
- Quants have beliefs: in their systems not a narrative. (mrzepczynski.blogspot.com)
C-suite
- How the stock ownership of medical device company CEOs affects recalls. (wsj.com)
- Why do investors vote against corporate directors? (papers.ssrn.com)
Global
- Why global equity market correlations are on the rise. (papers.ssrn.com)
- Target date funds hold more in international stocks than the average investor. (morningstar.com)
Behavior
- Another indication that political polarization is showing up in investor portfolios. (klementoninvesting.substack.com)
- There's no evidence that economic forecasters can actually forecast. (wealthmanagement.com)
- Why you should ask analysts to rank their stocks. (papers.ssrn.com)
Research
- What are the chances the top 5 companies will be the same in 10 years? (mailchi.mp)
- What you need to know about the equity risk premium. (aswathdamodaran.blogspot.com)
- The low-beta anomaly is well explained by other factors. (alphaarchitect.com)
- Public pensions that have invested the most in alternatives have seen the worst performance. (institutionalinvestor.com)
- Long commodities are an imperfect inflation hedge, at best. (wsj.com)
