This week Ryan and Jack have a discussion on three topics. First, they discuss ETF tax efficiency based on the findings in a new paper by the RAFI team. Second, they discuss the profitability factor as Larry Swedroe highlights a new paper on international evidence. Third, they discuss Jack's article on how one should benchmark a trend following strategy.

Paper Links: Can Your Alpha Cover the Tax Bill? Pro-Tip: The ETF Wrapper May Help. https://alphaarchitect.com/2018/10/15/can-your-alpha-cover-the-tax-bill-pro-tip-the-etf-wrapper-may-help/

The Profitability Factor: International Evidence https://alphaarchitect.com/2018/10/18/the-profitability-factor-international-evidence/

What is the correct benchmark for trend following? https://alphaarchitect.com/2018/10/16/what-is-the-correct-benchmark-for-trend-following/