2023 Report to Readers
Luis García-Feijóo, CFA, CIPM

Exclude with Impunity: Personalized Indexing and Stock Restrictions
Yin Chen and Roni Israelov

Smart Rebalancing
Rob Arnott, Feifei Li, and Juhani Linnainmaa

Shareholder Activism in Small-Cap Newly Public Firms
Emmanuel R. Pezier and Paolo F. Volpin

Fundamental Analysis via Machine Learning
Kai Cao and Haifeng You, CFA

Private Equity Performance around the World
Sara Ain Tommar, Serge Darolles, and Emmanuel Jurczenko

Reversals and the Returns to Liquidity Provision
Wei Dai, Mamdouh Medhat, Robert Novy-Marx, and Savina Rizova

Short Squeezes
Zhiqian Jiang, Baixiao Liu, Andrew Schrowang, and Wei Xu