Weekend Reads - Jan 04, 2025

Is the US Stock Market a Quasi-Ponzi Scheme?; Factor and Price Momentum across the Globe; In Crypto We Trend; Low Beta Portfolios Across Industries; and more...

• Is the US Stock Market a Quasi-Ponzi Scheme? (Markets and More)

• Factor and Price Momentum across the Globe (Disciplined Systematic Global Macro Views)

• In Crypto We Trend (Man Institute)

• Low Beta Portfolios Across Industries (Quant Connect)

• Momentum: A Universe Based on Liquidity (The Abacus Blog)

• Kelly Can’t Fail (Win Vector)

• What We’ve Learnt from Reading Thousands of Fed Communications (Turnleaf Analytics)

• Drawdown Implied Correlations (CSSA)

• Best Practices: Managing Liquidity through General Partner-Led Secondaries (Industry Ventures)

• Sizing Bitcoin in Portfolios (BlackRock)

• Investing in AI Infrastructure (Magnetar)

• Edging out the Competition – The Sector Specialist Advantage (Common Fund)

• ETFs and Product Market Fit (Thoughts from a $800mm+ ETF Manager) (📺 Corey Hoffstein)

• Aswath Damodaran, the Dean of Equity Valuation from the Stern School of Business (🎧 Bogleheads on Investing)

• Design Choices, Machine Learning, and the Cross-Section of Stock Returns by Chen et al. (SSRN)

• Formula Investing by Schwartz and Hanauer (SSRN)

• Forecasting and Managing Volatility: An S&P 500 Case Study by Dai et al. (SSRN)

• Investor Types and Delayed Changes in Asset Price Comovement by Glück (SSRN)