Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at how family leadership affects returns.
Quote of the Day
"Every endowment head naturally considers themselves a brilliant, Swensenian judge of talent and remains convinced that they can consistently invest in top quartile funds."
(Robin Wigglesworth)
Chart of the Day
The introduction of gold ETFs seems to have boosted the real price of gold.
Momentum
- Momentum matters, but its complicated. (alphaarchitect.com)
- Institutional investors drive same-weekday momentum. (papers.ssrn.com)
Institutional
- Private equity is ripe for disruption. (papers.ssrn.com)
- Institutional benchmark manipulation is real. (caia.org)
Households
- Don't dismiss household subjective expectation surveys. (papers.ssrn.com)
- Individuals don't understand the effect of inflation on the real value of their debt. (papers.ssrn.com)
Research
- Factors are not immutable. (mrzepczynski.blogspot.com)
- Is the price of gold still tethered to inflation? (papers.ssrn.com)
- How to rebalance a portfolio with turnover constraints. (blogs.cfainstitute.org)
- Are analysts long-term growth forecasts informative for loss-making firms? (papers.ssrn.com)
- Companies that share an external investor relations team, share outside investors. (papers.ssrn.com)
- It's hard to underestimate the impact of the SBBI yearbook. (ritholtz.com)