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Investing Research Articles

3274 Research Articles

Classic Research: Mean Reversion in Corporate Profitability

…corporate profitability and earnings growth exhibit non-linear mean reversion.

Can Individual Investors Enhance Returns with Options?

…investing in options as a marginal enhancement to a buy-and-hold approach can improve returns and Sharpe ratios, but only if the options positions are small compared to overall portfolio size.

Classic Research: Explaining Large Stock Market Fluctuations

…the power law distribution of sizes of large investors, along with the optimal trading behavior of those investors, explains the excess volatility observed in asset markets.

A Few Notes on Probability Theory, The Logic of Science

“…[T]he human mind has a predilection for rampant, uncontrolled induction, and it requires much education to overcome this.”

A Few Notes on Reinventing The Bazaar, A Natural History of Markets

“The variables that economists have found to be associated with increases in per capita income, to sum up, fall under two headings: investment and institutions.”

Abnormal Returns from Small Stocks with Good Prospects

…hidden gems (unlike hidden lumps of coal) generally do not want to be hidden. The best small firms solicit analyst coverage to get investor attention.

Challenging the Value Premium

…the empirical foundation for value investing may not be as sound as generally thought.

Trading Signals from Retail Investor Behavior

…if you want to make money following the retail investor herd, you have to get in and out within weeks. For longer-term outperformance, bet against the herd.

Jason Kelly on Market Timing

Guru Grades ranks a group of 29 stock market experts according to our assessments of the accuracy of their stock market forecasts. Since Jason Kelly has been at or near the top of the list, we asked him to encapsulate his thinking on stock market timing in a short piece for this blog. What makes… Keep Reading

The After-January Effect?

In case you are sick of hearing about the January effect…