Fourth quarter’s edition summarizes five articles on environmental, social, and governance (ESG) data.

Third quarter’s edition summarizes five articles on portfolio risk. The first article highlights the trade-offs among diversification, active risk, and excess return in active equity allocations; the second analyzes asset class correlations during tail events; the third highlights how the current state of trading liquidity could exaggerate the next downturn; the fourth argues that hedge funds do protect investors during market shocks; and the fifth reviews how commodity long/short indexes improve a traditional portfolio’s risk-adjusted return.

Second quarter’s edition summarizes five article on trade policy. The first article finds that protectionism has failed as a US policy across various time periods; the second analyzes commonly held misconceptions about trade deficits; the third argues that although the risk of a trade war has increased in recent months, it remains low; the fourth examines the difficulties in relocating supply chains across countries and regions; and the fifth quantifies the potential impacts of a US withdrawal from NAFTA.

September’s publication summarizes three articles related to market sentiment. The first highlights how news articles can be used to predict future market returns; the second argues that when sentiment across markets becomes more correlated future returns are likely to be more correlated as well; and the third argues that sentiment is an integral part of asset pricing.

May’s publication summarizes three articles on factor-based investment strategies. The first demonstrates the difference between theoretical factor returns and the factor returns realized by mutual fund managers, the second examines the robustness and implementation costs of multiple factors, and the third finds that factor timing strategies fail to add value to a diversified multi-factor portfolio.