The paper titled, “Luck versus Skill in the Cross section of Mutual Fund Returns” by Fama & French uses bootstrapping to analyze the performance of various active funds in US markets. Here is a document summarizing the main points of the paper. Link : Luck versus Skill paper summary

Had a chance to accompany my parents in watching a play, “Kaal Chakra”.The play is one of the flagship plays of Yatri theatre group (founded by Om Katare). The play revolves around an elderly couple, Mr.&Mrs.Inamdar(Om Katare and Paromita Chatterjee). Like most of the middle class families, they put in their entire savings in bringing up their two kids. The elder son for various reasons takes on Mr. Inamdar’s business and leads a financially struggling life.

The classic paper, “The central role of the propensity score in observational studies for casual effects“ by Rosenbaum & Rubin, is cited in many of the applied econometrics papers that deal with causality. In a randomized experiment, the outcome of the treated group and control group can be directly compared because the groups are likely to be similar. In an observational study, one does not have this luxury and in almost all the cases, the treated group and the control group vary in their composition.

The paper titled, “The causal impact of algorithmic trading on market quality”, written by Nidhi Aggarwal and Susan Thomas, systematically identifies the casual relationship between Algorithmic trading intensity and market quality features in the Indian markets. In this post, I will briefly summarize the contents of the paper : What is the paper about ? How does algorithmic trading (AT) affect the quality of securities markets ? is something that is always discussed/ analyzed/ debated by old and new market participants.

This book is a TED book, i.e. a book paired with a TED talk so that ideas mentioned in the talk are explored in a little more detail. At the same time, TED books are intended to be short so that one can comfortably read it one sitting. This book is about 75 pages. The author gives various anecdotes from his life and encourages the reader to find “Nowhere” in one’s daily/weekly schedule so as to practice “Stillness”.