Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including some thoughts on ‘return stacking’ as a strategy.
Quote of the Day
"In short, the bond-laddering approach delivers similar average returns as reinvesting bonds each year, but with reduced volatility and less downside."
(Derek Horstmeyer)
Private equity
- What happens when you 'de-smooth' private equity returns? (institutionalinvestor.com)
- Why do private equity fees vary so widely? (alphaarchitect.com)
Work
- Getting an internship at a top multi-strategy hedge fund is a good, but tough to get, gig. (pionline.com)
- Women in the C-suite lost ground in 2023. (washingtonpost.com)
- On the life of a university endowment CIO. A review of Gary Sernovitz's "The Counting House." (citywire.com)
Corporate finance
- Does higher market share drive higher profitability? (mailchi.mp)
- Markets don't like companies who are passive in the face of climate and environmental risks. (sciencedaily.com)
Research
- Do private debt funds outperform on a risk-adjusted basis? (papers.ssrn.com)
- Comparing options fund performance isn't always straightforward. (mutualfundobserver.com)
- A look at what drives real interest rates over the very long run. (econbrowser.com)
- Lessons learned about safe withdrawal rates from a global perspective. (portfoliocharts.com)
- Bear markets are bad for investor mental health. (alphaarchitect.com)
- Bond ladders are just fine. (wsj.com)