Quant stuff

• Ben Carlson, "The biggest problem I have with most backtests is that it’s always going to be easier to find a strategy that worked well in the past than to discover one that works well in the future." (awealthofcommonsense.com)
• A round-up of recent research on ETFs including 'On the Anomaly Tilts of Factor Funds.' (capitalspectator.com)
• On the dangers of data mining and selection bias. (priceactionlab.com)

Global

• How closely does the Fed pay attention to global monetary policies? (papers.ssrn.com)
• The U.S. still drives the main driver of the global financial cycle. (papers.ssrn.com)
• Why the London stock market has losing relative share. (realreturns.blog)

Active management

• There's very little evidence in favor of active management. (mathinvestor.org)
• Multi-strategy funds are no great diversifier. (insights.finominal.com)

Research

• Why isn't the value spread coming in more quickly? (alphaarchitect.com)
• What's the deal with low volatility? (blog.validea.com)
• How salience theory helps explain the momentum effect. (alphaarchitect.com)
• Want to find a financial fraud? Focus on the auditors first. (institutionalinvestor.com)
• What you need to know about factor returns. (kitces.com)

Economics

• A lot of participants would use a retirement bridging to delay Social Security claiming. (papers.ssrn.com)
• Apartment renters bear the cost of landlord financial pressure. (libertystreeteconomics.newyorkfed.org)
• Stadium subsidies don't do what they claim. (papers.ssrn.com)