Older paper (2012) but valuable for two reasons: 1) is realistic about correlation, and 2) pays special attention to correlation in times of market decline, such as the one that just preceded the paper and the one we’re going through now.
Great analysis of Warren Buffett’s above-market returns. The authors find two reasons for his success: 1) stock selection tilted towards high-quality companies available at great prices, and 2) use of low-cost leverage. Not exactly a RP article, but helpful connections regarding leverage.
Clear, succinct and authoritative summary of relevant research on behavioral finance and how the principles can be seen among real-world investors. Chapter Seven, about mental accounting and portfolio construction, is a goldmine of insights for RP investors.
What do the experts say about REITs as a distinct asset class? I’ve expressed my own doubts in the first two posts on real estate - but what’s the take from the world of professional investors? In this post, I gather and summarize six relevant sources on the topic.
Quick piece updating how various RP products are performing over the past two years and the rising interest rate environment. Some helpful commentary at the end wondering how RP if rising rates continue.