Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at the performance of endowment funds.
Quote of the Day
"The evidence suggests that value investing is far from dead. While U.S. markets have presented challenges for value strategies over certain periods, international markets demonstrate that the value premium remains robust globally."
(Larry Swedroe)
Balance sheets
- How much cash is too much for corporations to hold? (morganstanley.com)
- Martin Fridson reviews "The Financial Restructuring Tool Set: How to Fix Your Broken Balance Sheet" by Mike Harmon. (blogs.cfainstitute.org)
Diversification
- On the importance of diversification in private credit. (larryswedroe.substack.com)
- Why CTA investors need to diversify. (alphaarchitect.com)
Investment philosophy
- An investment policy needs to have a coherent philosophy behind it. (blogs.cfainstitute.org)
- Meetings crowd out long-term thinking. (behaviouralinvestment.com)
Representation
- Women founders are treated unequally by VCs. (papers.ssrn.com)
- Minority representation at mortgage lenders matters for minority borrowers. (alphaarchitect.com)
Research
- The value factor is alive and well overseas. (larryswedroe.substack.com)
- A look at how short sellers create their investment theses. (papers.ssrn.com)
- Wall Street is battling with AI startups for quant talent. (bloomberg.com)
- Everything is disruptable, and even if it isn't, you should act as if it is. (abnormalreturns.com)
- Does illiquidity really pay? (mailchi.mp)
