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 so-called ‘wide moat’ stocks.
Quote of the Day
"Data quality is that which increases data value."
(Abraham Thomas)
Books
- Phil Bak talks with Aaron Brown about his new book "Wrong Number: How to Extract Truth From a Blizzard of Quantitative Disinformation" (philbak.substack.com)
- A review of "Stock Market Maestros: The Winning Habits, Strategies, and Mindsets of the World’s Best Investors" by Lee Freeman-Shor and Clare Flynn Levy. (rpc.cfainstitute.org)
AI
- How LLMs can condense historical data at scale. (nber.org)
- Even with AI tools, humans are going to human. (papers.ssrn.com)
Private credit
- Research into the fragility of semi-liquid private credit funds. (papers.ssrn.com)
- Is private credit a systematic risk? (econofact.org)
Research
- Is an elevated VIX really a buy signal? (washingtonpost.com)
- Traders value data they pay for. (klementoninvesting.substack.com)
- The markets have taken care of another anomaly, i.e. 'overnight drift.' (papers.ssrn.com)
- Niels Kaastrup-Larsen talks trend following with Mark Rzepczynski. (toptradersunplugged.com)
- Small things can affect your decision making in the moment.` (klementoninvesting.substack.com)
- A round up of recent academic research including 'What Investors Disagree About: LLM-Decomposed Retail Disagreement and the Cross-Section of Stock Returns.' (alphainacademia.com)
- Why CEOs need to watch their tone. (ft.com)