Weekend Reads - Aug 09, 2025

Why Every Trend Follower Has a Different Mission; Structural Flaws in the Growth–Value Duality; Stand United or Divide and Conquer? What is the Best Approach to Factor Investing?; and more...

• Built for Purpose: Why Every Trend Follower Has a Different Mission (ATS Trading Solutions)

• False Choices, Real Costs: Structural Flaws in the Growth–Value Duality (Research Affiliates)

• Stand United or Divide and Conquer? What is the Best Approach to Factor Investing? (State Street)

• The International Rebalance (MS)

• Diversifiers Forever (AQR)

• Death of a Knowledge System (Ecologies Of Wisdom)

• Investing in Managed Futures (Market Sentiment)

• From Recovery to Reinvention (BCG)

• What’s Driving the Surge in U.S. Corporate Profits? (Fed)

• Factors: The Good and the Bad (Verdad)

• How to Identify Ponzi Funds? (Quantpedia)

• Seth Klarman - Contrarian Investing, Discipline, and Building Baupost (🎧 Value Investing with Legends)

• No Country for Old Funds (Upwelling)

• Stop Investing Like It’s 2010? (📺 The Meb Faber Show)

• The Bubble No One Can Sell | Dan Rasmussen on the Private Equity Trap (📺 Excess Returns)

• The Limits of Out-of-Sample Testing (Relative Value Arbitrage)

• Dot Product in the Attention Mechanism (Eran Raviv)

• Multivariable Kelly Criterion and Leverage by Smirnov and Dapporto (SSRN)