Weekend Reads - Sep 20, 2025

Measuring the Impact of Impact Investors; Volatility Targeting Across Asset Pricing Factors and Industry Portfolios; Do Simple Stock-Picking Formulas Still Work?; and more...

• Measuring the Impact of Impact Investors (Klement on Investing)

• Total Concentration (Verdad)

• Volatility Targeting Across Asset Pricing Factors and Industry Portfolios (Relative Value Arbitrage)

• Do Simple Stock-Picking Formulas Still Work? (Larry's Substack)

• Insights from the Lotka-Volterra Model (Economics from the Top Down)

• Going Terminally Offline (Of Dollars and Data)

• High-Vol Trend Following: The Most Valuable Alternative Investment? (RCM Alternatives)

• On Commitment (Hot Takes)

• The False Dichotomy: Why the Active vs. Passive Fund Debate Misses the Point (Alpha Architect)

• Capex Cycles (Verdad)

• Chris Carrano – Designing Practical Factor Models (🎧 Flirting with Models)

• Edward Chancellor Warns of an AI Bubble and Debt Supercycle Threatening U.S. Markets (📺 Prague Finance Institute)

• Cliff Asness Returns (📺 Carson Group)

• A Quant's Perspective on the 2008 Financial Crisis (📺 Susquehanna International Group)

• Ken Rogoff, Professor of Economics, Harvard and Former Chief Economist, IMF (🎧 Alpha Exchange)

• A Tale of Two Anomalies: Value, Momentum, and Risk Sentiment by Lundblad et al. (SSRN)

• The Role of Sticky Dividends During Recessions by Douglas (SSRN)

• Inflation Factors by Leiva-León et al. (SSRN)