Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at how finfluencers fall into a regulatory gray area.
Quote of the Day
"Value traps exist when a company appears statistically inexpensive, often based on the P/E as compared to the stock’s past or to the market overall, but the future drivers of TSR perform poorly."
(Michael J. Mauboussin and Dan Callahan)
Factors
- Why corporate bond factor research is more challenging. (papers.ssrn.com)
- Why do stocks with high idiosyncratic volatility underperform? (alphaarchitect.com)
Momentum
- Fund investors are momentum chasers. (klementoninvesting.substack.com)
- Momentum in the sports betting markets. (papers.ssrn.com)
Research
- Do stocks really become less risky over the long run? (morningstar.com)
- Active managers don't successfully turn high volatility into alpha. (insights.finominal.com)
- Sustainable investing has a definitional problem. (alphaarchitect.com)
- How environmental conditions affect investing decisions. (papers.ssrn.com)
- What laughter on a conference call tells you. (ft.com)
- Is gold a good investment? Meh. (monevator.com)
