Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at when VCs skimp on due diligence.
Quote of the Day
"How long must you be on Wall Street to learn than nobody gives a *** about risk-adjusted returns? Did you make money or lose money and how much? Save the footnotes for your memoirs."
(Joshua Brown)
Quant stuff
- A round up of recent white papers including 'The Spectrum of Infrastructure Assets' (bpsandpieces.com)
- LLMs are still hallucinating non-existent economics papers. (papers.ssrn.com)
- How asset managers are deploying AI. (advisorhub.com)
- Quants that are getting hurt by the return of the meme stock thing. (bloomberg.com)
Fund performance
- For fund returns, low costs (still) matter. (morningstar.com)
- A look at how fees drag down the performance of endowment funds. (papers.ssrn.com)
Research
- How has the value premium evolved in international stocks. (mailchi.mp)
- Individual investors trade like contrarians after earning surprises. (papers.ssrn.com)
- Why individual investors love dividend reinvestment. (fa-mag.com)
- Is there an overnight effect in crypto? (efalken.substack.com)
- People respond disproportionately to positive inflation surprises than negative surprises. (papers.ssrn.com)
- Some evidence in favor of management consultants. (ft.com)
- 'Personalist autocracies' are not great for economic growth. (papers.ssrn.com)
