Weekend Reads - Sep 09, 2023

How Much Skill A Concentrated Stock Picker Needs To Beat A Diversified Benchmark?; Credit, Distress, Default & The Long Term; What Are Dreams For?; How to Do Great Work; and more...

• How Much Skill A Concentrated Stock Picker Needs To Beat A Diversified Benchmark? (Outcast Beta)

• Credit, Distress, Default & The Long Term (Verus)

• What Are Dreams For? (The New Yorker)

• How to Do Great Work (Paul Graham)

• The Illusion of Control (More To That)

• Positive Skew Can Hurt Returns (Price Action Lab Blog)

• How Bonds Can Outperform Stocks Long Term (Optimal Momentum)

• Dissecting the Investment Factor (Alpha Architect)

• European Equities - More Bang for Your Buck (Verdad)

• Never Look Down the Road Not Taken (Of Dollars and Data)

• Why Note-taking Apps Don’t Make Us Smarter (The Verge)

• Numbers and Narrative - Aswath Damodaran (📺 CFA Society New Zealand)

• Testing “TrendYCMacro” from Ďurian and Vojtko of Quantpedia (Allocate Smartly)

• Andrew Ng: Opportunities in AI - 2023 (📺 Stanford Online)

• The Road to Composable Data Systems: Thoughts on the Last 15 Years and the Future (Wes McKinney)

• Copula for Statistical Arbitrage: A C-Vine Copula Trading Strategy (Hudson and Thames)

• Measuring Systemic Financial Stress And Its Risks For Growth by Chavleishvili and Kremer (SSRN)

• The Real Return of Mutual Fund Investors by Gao et al. (SSRN)