Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at what explains anomalies.
Quote of the Day
"An analyst who says that they simply don’t know most of the time should be thanked rather than mocked, and should probably be taken all the more seriously when they do have a view to express."
(Dan Davies)
Behavior
- All investments have an expressive component. (rpc.cfainstitute.org)
- How people forecast. (klementoninvesting.substack.com)
Personal finance
- On the math of a two-bucket retirement spending strategy. (papers.ssrn.com)
- Financial literacy always matters. (alphaarchitect.com)
Quant stuff
- A round-up of recent academic research including 'Benchmark Interest Rates When the Government is Risky.' (alphainacademia.com)
- You can download "Exponential Wealth: Centuries of Stock and Bond Returns" edited by Roger Ibbotson. (rpc.cfainstitute.org)
Research
- Did index funds make stocks more volatile? (wealthmanagement.com)
- Simple is better when it comes to factor exposure. (morningstar.com)
- What we know about AI use in investment management. (nber.org)
- What happens when you better measure PE performance? (alphaarchitect.com)
- What a rising debt/GDP ratio means for bond investors. (disciplinefunds.com)
- Why acquisitions often backfire. (klementoninvesting.substack.com)
