Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the inevitability of direct indexing solutions.
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Quote of the Day
"Investors who aren't comfortable with the possibility of underperforming for five or even 10 years shouldn't own multifactor funds--or any active investment for that matter."
(Alex Bryan)
Research
- Quality ETFs have been underweight the FAANMG stocks. (alphaarchitect.com)
- How much are intangibles to blame for value underperformance? (factorresearch.com)
- How correctly anticipating bond upgrades and downgrades can generate alpha. (mailchi.mp)
- There's no evidence that, on average, institutional investors can identify outperforming managers. (klementoninvesting.substack.com)
- Savvy Investor Awards 2020: The Best White Papers. (savvyinvestor.net)
- Some common myths about backtesting. (priceactionlab.com)







