Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at the waning index effect.
Quote of the Day
"If fees are charged more often, capital cannot compound at the same rate because any recovery in funds is interrupted by the fees being charged."
(Joachim Klement)
Bonds
- Shorting low quality credit is not the same as shorting equities. (mailchi.mp)
- What does the VIX tell us about corporate bond spreads? (mrzepczynski.blogspot.com)
- Bond and equity ETF liquidity is different. (papers.ssrn.com)
Private credit
- Is private credit in a bubble? (alphaarchitect.com)
- Why publicly traded vehicles for private credit don't work as well. (morningstar.com)
Behavior
- This is a better way to do a crowdfunding campaign. (marginalrevolution.com)
- What is 'quantification fixation'? (bloomberg.com)
- Some evidence on the 'motherhood penalty.' (reason.com)
Research
- Morningstar is revamping its fund rating (star) system. (riabiz.com)
- Analysts are pretty much useless forecasting the long term. (mailchi.mp)
- Asset growth as a factor. (alphaarchitect.com)
- Fees matter. So does their frequency. (klementoninvesting.substack.com)
- How do stop-loss orders affect risk and returns? (mrzepczynski.blogspot.com)
- Why IRRs can be misleading. (blogs.cfainstitute.org)
