Indexing What does an index of CTA returns actually measure? (mrzepczynski.blogspot.com) Why would anyone want to invest in an index of hedge fund returns? (ft.com) Diversification Bob Elliott, “While selection alpha is uncertain, the benefits...

Research Average performance can obscure some bad outcomes. (portfoliocharts.com) No matter where you look, momentum shows up. (alphaarchitect.com) Why don’t more investors use equal-weighted indices? (mrzepczynski.blogspot.com) How LLMs can be used...

Also on the site When the world is in flux, experience could actually be a detriment. (abnormalreturns.com) You can now follow us on Bluesky. (bsky.app) Are you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com) Top clicks...

Markets A reminder that degenerate traders are not confined to the U.S. (acadian-asset.com) Another example, why the stock market is not a level playing field. (ft.com) Palantir Palantir ($PLTR) CEO Alex Karp is selling a lot of shares. (ft.com) The...

Quant stuff Some financial-focused AI tools worth checking out. (herbgreenberg.com) A round-up of recent research papers on asset allocation including ‘Asset Allocation Mandates and Price Reactions to New Information.’ (capitalspectator.com)...

Strategy Fund investors should do less, not more. (jeffreyptak.substack.com) Why investors should value principles over predictions. (behaviouralinvestment.com) Crypto Crypto continues to search for a use case. (acadian-asset.com) Strategy ($MSTR)...

Top clicks this week Why this is different than the GFC. (morningstar.com) What is the basis trade? (apolloacademy.com) ‘Sell America’ includes selling Treasurys. (morningstar.com) How long does it take for the stock market to recover from a...

Top clicks this week Are we finally seeing an opening for international diversification? (awealthofcommonsense.com) The last ten years in the stock market visualized. (sherwood.news) It’s been a awhile since the Nasdaq traded below its 200 day...

Research A closer look at hedge fund industry performance. (alphaarchitect.com) How to suss out intangible-rich international companies. (sparklinecapital.com) Quality and low vol are not synonymous. (insights.finominal.com) For generative AI to work...

Markets The equity risk premium is negative. (advisorperspectives.com) The seven pillars of market bubbles. (acadian-asset.com) Crypto Fidelity Wise Origin Bitcoin Fund ($FBTC) how has $21.4 billion one year in. (etf.com) More companies are adding Bitcoin...