What are we reading at the moment? Articles and books of interest follow below…


  • Peter L. Bernstein

The Last Tycoons: The Secret History of Lazard Frères & Co.

  • William D. Cohan

Lords of Finance: The Bankers Who Broke the World

  • Liaquat Ahamed

The Folly of Hiring Winners and Firing Losers

  • Rob Arnott et al. Journal of Portfolio Management Vol. 45, No. 1, Fall 2018 edition
  • https://www.iijournalseprint.com/JPM/ResearchAffiliates/Fall18TheFollyofHiringWinners46f/index.html

Anomalies: The Winner’s Curse

  • Richard H. Thaler, Journal of Economic Perspectives, Vol. 2, no. 1, Winter 1988 (pp. 191-202)
  • https://www.aeaweb.org/articles?id=10.1257/jep.2.1.191&within%5Btitle%5D=on&journal=3&q=Anomalies&from=j

A Random Walk Down Wall Street

  • Burton G. Malkiel

TWO SIGMA RAPIDLY RISES TO TOP OF QUANT HEDGE FUND WORLD

$50B in FUM now puts them on par with rivals Renaissance and DE Shaw.

$6B to $50B in 6 years. 2 words: ABSOLUTE RETURN.

 https://www.ft.com/content/dcf8077c-b823-11e7-9bfb-4a9c83ffa852?myftTopics=7c1e0da7-9a15-31a9-bedb-5bc66a11e450


RETAIL FINANCIAL ADVICE: DOES ONE SIZE FITS ALL?

  • Authors: FOERSTER S., LINNAINMAA J.T., MELZER B.T., PREVITERO A.
  • Publication: JOURNAL OF FINANCE, V.72, AUGUST 2017

http://www.aleprevitero.com/wp-content/uploads/2015/07/foerster_et_al_SSRN_2015.pdf


Macro hedge funds: big but becalmed

https://www.ft.com/content/f1d09734-923c-11e7-bdfa-eda243196c2c