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Investing Research Articles

2801 Research Articles

Detecting Wisdom in a Crowded Market

…situations involving herded traders and/or a small number of shareholders are good candidates for producing mispriced stocks.

Expert Overconfidence?

…expertise does not mitigate bias. Even highly experienced investors/traders should consider measuring their estimation errors for related tasks to calibrate their judgments.

The 5-Star Kiss of Death

…portfolio changes after achieving the Morningstar 5-star rating hurt fund performance, and investors should be cautious about using this rating as the principal means of selecting mutual funds. Handling large cash inflows attracted by the high rating may be the culprit.

Stock Market Forecasting

If your crystal ball has not been working so well…

Do Stocks Ever Hit Analyst Target Prices?

…analyst stock price targets are not good predictors of actual stock price potentials. Analysts exhibit this poor performance because they want to express optimism about the stocks they cover and have no compensation incentives or public accountability related to stock price targets.

What Makes Shorts Throw in the Towel?

…short sellers throw in the towel (throw more punches) when stock prices move against (with) their positions.

The Animal Spirits of Day Trading

…given that trading involves logical reasoning, numerical computation and long-term planning, one component of successful trading may be a reduced level of emotional reactivity.

The Best Benchmarkers, Ever!

…stocks have significantly outperformed less risky asset classes in the U.S. for over 200 years. Volatility comes with the outperformance.

What It Takes to Drive the Big (Hedge Fund) Rigs

…smart young (hedge fund) drivers wanted.

Technical Trading Thoroughly Tested

…technical analysis can be significantly profitable when applied to relatively immature stock indices (NASDAQ Composite and Russell 2000) but not when applied to mature stock indices (DJIA and S&P 500). Speed of information dissemination and liquidity for stocks within an index may be critical to the success of technical analysis on that index.