Pension funds

• University endowments are more likely to invest in funds run by alumni. (papers.ssrn.com)
• Pension funds with more politicians on the board rely more on consultants. (institutionalinvestor.com)

Quant stuff

• This is one big advantage that quantitative investors have over fundamental investors. (mailchi.mp)
• Quant models can help avoid some of the worst downsides of groupthink. (mrzepczynski.blogspot.com)
• There are three types of backtests according to Cliff Asness. (priceactionlab.com)

Media

• What happens to markets when Matt Levine goes on vacation? (papers.ssrn.com)
• Negative words in online headlines drive clicks. (niemanlab.org)

Quant

• Are institutional investors killing off factor returns? (alphaarchitect.com)
• Old economy companies that invest heavily in technology are a sweet spot. (sparklinecapital.com)
• There's a difference between probability and confidence. From "Confidence: Methods to Assess Confidence Under Uncertainty" by Michael Mauboussin and Dan Callahan. (morganstanley.com)
• What short selling data actually matters. (alphaarchitect.com)
• How much does ESG news drive stock prices? (blogs.cfainstitute.org)