Weekend Reads - Dec 14, 2024

The Endowment Syndrome: Why Elite Funds Are Falling Behind; Trend Following Done Right; Looking Beyond a Top-Heavy Market; What to Expect When No One's Allocating; and more...

• The Endowment Syndrome: Why Elite Funds Are Falling Behind (Enterprising Investor)

• Trend Following Done Right (Optimal Momentum)

• Looking Beyond a Top-Heavy Market (Amundi)

• Charts From the Vault (Morgan Stanley)

• What to Expect When No One's Allocating (Michael Green)

• Revisiting the Demographic Event Horizon as Financial Nihilism Explodes (PauloMacro’s Substack)

• The Most Underappreciated Aspect of Trading -- "Is It Bid or Offered?" (📺 Moontower AI)

• Mike Green on Societal Nihilism, Broken Markets, and Crypto's False Promise (📺 Maggie Lake Talking Markets)

• Factor Analysis: A Hands-On Introductory Workshop Using Indian Market Data | Rajan Raju | IIMA (📺 CFA Society India)

• Private Equity Financer's Returns Slump in a $1.2 Trillion Market (Bloomberg)

• The Road Ahead: Themes for the Next Decade (Man Institute)

• Dr. Robert Frank on ‘Smart for One But Dumb for All’ (🎧 ReSolve)

• Tax-Loss Harvesting On Levered Long/Short (Party at the Moontower)

• When Correlations Break or Hold: Strategies for Effective Hedging and Trading (Relative Value Arbitrage)

• Hurst Exponent Applications: From Regime Analysis to Arbitrage (Relative Value Arbitrage)

• Large Language Models Explained Briefly (📺 3Blue1Brown)

• Apt or “Aipt”? The Surprising Dominance of Large Factor Models by Didisheim et al. (SSRN)

• Index Investing and Sentiment Spillover by Atmaz and Zhou (SSRN)