Weekend Reads - Aug 02, 2025

The Cost of Greenwashing; Rolling the Dice on Rebalancing: A Hidden Risk in Momentum Strategies; The Hidden Costs of Index Replication; The Unintended Consequences of Rebalancing; and more...

• The Cost of Greenwashing (Klement on Investing)

• Rolling the Dice on Rebalancing: A Hidden Risk in Momentum Strategies (L&G)

• The Hidden Costs of Index Replication (Larry's Substack)

• The Unintended Consequences of Rebalancing (Quant Trading Rules)

• Buffett’s Intangible Moats (Sparkline Capital)

• Must Value Be Anti-Growth? (Research Affiliates)

• Understanding The Virtue of Complexity (AQR)

• Make Your Own Luck (KKR)

• Everyone Is Braced for a Crash. That's Why It Won't Happen | Jim Paulsen on What Comes Next (📺 Excess Returns)

• The Trillion Dollar Trap | Mike Green on Passive Investing's Fatal Design Flaw (📺 Excess Returns)

• The Equity Overnight Anomaly ETFs (Falkenblog)

• Why the Last Few Minutes of Trading Might Matter More Than You Think (Alpha Architect)

• Covering Your Tail: The Case for Expected Shortfall in Tail Risk Management (Man)

• Private Asset-Backed Credit: How Structural Protections Drive Resilient Performance (Waterfall)

• Edward Yu – Bringing OTC On-Chain and the VariationalOMNI Perp Dex (🎧 Flirting with Models)

• Breaks and Trends in Factor Premia by Cui et al. (SSRN)

• Revisiting Factor Momentum: A One-month Lag Perspective by Rönkkö and Holmi (SSRN)

• Fundamental Growth by Arnott et al. (SSRN)