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Author : Brad Barber
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (81 download)
Download or read book Can Investors Profit from the Prophets? written by Brad Barber and published by . This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Brad M. Barber
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (129 download)
Download or read book Can Investors Profit from the Prophets? Consensus Analyst Recommendations and Stock Returns written by Brad M. Barber and published by . This book was released on 2008 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we document that an investment strategy based on the consensus (average) analyst recommendations of security analysts earns positive returns. For the period 1986-1996, a portfolio of stocks most highly recommended by analysts earned an annualized geometric mean return of 18.8 percent, while a portfolio of stocks least favorably recommended earned only 5.78 percent. (In comparison, an investment in a value-weighted market index earned an annualized geometric mean return of 14.5 percent.) Alternatively stated, purchasing stocks most highly recommended yielded a return of 102 basis points per month. The magnitude of this return is surprisingly large, and is far greater than the size effect (negative 16 basis points) and book-to-market effect (17 basis points) for the same period. Even after controlling for these two effects, as well as for price momentum, we show that the strategy of purchasing stocks most highly recommended and selling short those least favorably recommended yielded a return of 75 basis points per month. These results are robust to partitions by time period and overall market direction, and are most pronounced for small and medium-sized firms. The abnormal returns also persist when we allow a lapse of up to 15 days before acting on the investment recommendations. There is no extant theory of asset pricing that explains these results.
Author : John R. Nofsinger
Publisher : FT Press
ISBN 13 : 0130668419
Total Pages : 328 pages
Book Rating : 4.1/5 (36 download)
Download or read book Investment Blunders of the Rich and Famous-- and what You Can Learn from Them written by John R. Nofsinger and published by FT Press. This book was released on 2002 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nofsinger identifies the most common investor mistakes through the prism of the world's most public investment catastrophes. Using other people's money and other people's disasters, "Investment Blunders" teaches a wide range of critical lessons every investor must learn.
Author : Caterina Cruciani
Publisher : Springer
ISBN 13 : 3319682342
Total Pages : 170 pages
Book Rating : 4.3/5 (196 download)
Download or read book Investor Decision-Making and the Role of the Financial Advisor written by Caterina Cruciani and published by Springer. This book was released on 2017-11-13 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at financial advisory from a behavioural perspective, and focuses on how the nature of the relationship between advisors and clients may affect the ability of the advisor to perform its functions. Broken into three key parts, the book looks at the client, the advisor, and the relationship between the two. Chapters review relevant theories of decision-making under risk to understand the nature of clients’ decisions. The literature on advisors’ functions and the normative landscape regulating financial advisory are also addressed. Finally, this book reviews how behavioural finance has traditionally addressed portfolio selection and explains how trust can be seen as a viable avenue to maximize advisors’ effectiveness and pursue clients’ needs. This book will be of interest to both behavioural finance scholars and practitioners interested in understanding what the future of financial advisory may have in stock.
Author : Richard L. Peterson
Publisher : John Wiley & Sons
ISBN 13 : 1118044800
Total Pages : 473 pages
Book Rating : 4.1/5 (18 download)
Download or read book Inside the Investor's Brain written by Richard L. Peterson and published by John Wiley & Sons. This book was released on 2011-01-11 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unique insights into how the mind of an investor operates and how developing emotional awareness leads to long-term success Inside the Investor's Brain provides readers with specific techniques for understanding their financial psychology, so that they can improve their own performance and learn how to outsmart other investors. Chapter by chapter, author Richard Peterson addresses various mental traps and how they play a role in investing. Through examples, such as a gambling experiment with playing cards, the author shows readers how being aware of the subconscious can separate the smart investors from the average ones. This book also contains descriptions of the work of neuroscientists, financial practitioners, and psychologists, offering an expert's view into the mind of the market. Innovative and accessible, Inside the Investor's Brain gives investors the tools they need to better understand how emotions and mental biases affect the way they manage money and react to market moves.
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.0/5 ( download)
Download or read book Analyzing the Analysts written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2001 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Larry E. Swedroe
Publisher : Truman Talley Books
ISBN 13 : 142990934X
Total Pages : 379 pages
Book Rating : 4.4/5 (299 download)
Download or read book What Wall Street Doesn't Want You to Know written by Larry E. Swedroe and published by Truman Talley Books. This book was released on 2007-04-01 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do so many actively managed funds underperform? Why do passively managed funds provide superior returns, especially after taxes? What are the true interests of fund managers and the financial press? Most important, what strategy is in your best interest? What Wall Street Doesn't Want You to Know answers all these questions and more, giving you the inside information you need to become a successful investor who plays the winner's game-creating wealth-instead of the loser's game Wall Street wants you to play, of trying to pick stocks and time the market. In his revolutionary new guide, investment professional Larry Swedroe explains why active managers have rarely been able to add value to your portfolio over time. He dispenses with traditional Wall Street wisdom and experts and shows you how to invest the way really smart money invests today. What Wall Street Doesn't Want You to Know tells you exactly what Wall Street doesn't want you to know: how to avoid the pitfalls of short-term thinking and to invest so that you can create more wealth-much more wealth-over the long term.
Author : Cheng Few Lee
Publisher : World Scientific
ISBN 13 : 9811202400
Total Pages : 5053 pages
Book Rating : 4.8/5 (112 download)
Download or read book Handbook Of Financial Econometrics, Mathematics, Statistics, And Machine Learning (In 4 Volumes) written by Cheng Few Lee and published by World Scientific. This book was released on 2020-07-30 with total page 5053 pages. Available in PDF, EPUB and Kindle. Book excerpt: This four-volume handbook covers important concepts and tools used in the fields of financial econometrics, mathematics, statistics, and machine learning. Econometric methods have been applied in asset pricing, corporate finance, international finance, options and futures, risk management, and in stress testing for financial institutions. This handbook discusses a variety of econometric methods, including single equation multiple regression, simultaneous equation regression, and panel data analysis, among others. It also covers statistical distributions, such as the binomial and log normal distributions, in light of their applications to portfolio theory and asset management in addition to their use in research regarding options and futures contracts.In both theory and methodology, we need to rely upon mathematics, which includes linear algebra, geometry, differential equations, Stochastic differential equation (Ito calculus), optimization, constrained optimization, and others. These forms of mathematics have been used to derive capital market line, security market line (capital asset pricing model), option pricing model, portfolio analysis, and others.In recent times, an increased importance has been given to computer technology in financial research. Different computer languages and programming techniques are important tools for empirical research in finance. Hence, simulation, machine learning, big data, and financial payments are explored in this handbook.Led by Distinguished Professor Cheng Few Lee from Rutgers University, this multi-volume work integrates theoretical, methodological, and practical issues based on his years of academic and industry experience.
Author : Vicky Arnold
Publisher : Emerald Group Publishing
ISBN 13 : 0762313536
Total Pages : 249 pages
Book Rating : 4.7/5 (623 download)
Download or read book Advances in Accounting Behavioral Research written by Vicky Arnold and published by Emerald Group Publishing. This book was released on 2006-06-05 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents an empirical research in accounting theory. This book includes content that crosses into the fields of applied psychology, sociology, management science, and economics.
Author : Steen Thomsen
Publisher : McGraw Hill
ISBN 13 : 0077145518
Total Pages : 393 pages
Book Rating : 4.0/5 (771 download)
Download or read book Corporate Governance 1e written by Steen Thomsen and published by McGraw Hill. This book was released on 2012-04-16 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This exciting new text provides a complete introduction to Corporate Governance. It deals with the control and direction of companies by boards, owners and company law, and also looks at the mechanisms of governance and the different governance systems around the world. Part 1: is a non-technical overview of the relevant theories, governance mechanisms and the country models.Part 2: looks at some of the most important governance mechanisms in detail.Part 3: studies individual international corporate governance systems.Part 4: wraps up with a discussion on governance practices.
Author : SAMUEL THOMAS
Publisher : PHI Learning Pvt. Ltd.
ISBN 13 : 8120348303
Total Pages : 257 pages
Book Rating : 4.1/5 (23 download)
Download or read book SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT written by SAMUEL THOMAS and published by PHI Learning Pvt. Ltd.. This book was released on 2014-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book on Security Analysis and Portfolio Management is a comprehensive source of information and analysis for students and practitioners. The distinguishing feature of the book is the detailed coverage of the regulatory environment, which consists of the current and updated rules and regulations, tax-environment and the practice of investment in the securities market in India. The book has been written keeping in mind the potential investor and an average student. It addresses all their doubts and concerns and makes them informed about the money market. This well organised, lucidly written text covers various aspects of the portfolio management, ranging from analysis to revision and then performance evaluation of the portfolio. Also discusses in detail the securities market, derivatives and risk evaluation that helps in understanding the trading system better and making quality investment decisions. Besides explaining the theoretical concepts of portfolio management, the book provides a detailed analysis of the latest development in the securities trading. It is meant to be a ‘single window book’ covering the SAPM syllabus of almost all the Indian Universities and institutes conducting MBA/PGDM or MCom programmes. The book will be equally useful for the students of ICAI, ICWAI as well as for investment courses conducted by NSE. Key Features • Easy to understand by the readers even if they have not been exposed to higher mathematics.• Vast coverage of the SAPM topics.• Several worked-out problems in relevant chapters to aid and assist students and teacher alike.• Detailed discussion on Indian stock and share market in context to the country’s current scenario.
Author : Karin Knorr Cetina
Publisher : Oxford University Press, USA
ISBN 13 : 0199590168
Total Pages : 627 pages
Book Rating : 4.1/5 (995 download)
Download or read book The Oxford Handbook of the Sociology of Finance written by Karin Knorr Cetina and published by Oxford University Press, USA. This book was released on 2012-11-29 with total page 627 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook brings together leading international scholars to provide a comprehensive overview of research and theory on the sociology of finance and the workings of financial institutions and financial markets. It will serve as a reference point for this rapidly expanding discipline.
Author : B. Dowling
Publisher : Springer
ISBN 13 : 0230502199
Total Pages : 314 pages
Book Rating : 4.2/5 (35 download)
Download or read book Evolutionary Finance written by B. Dowling and published by Springer. This book was released on 2005-08-10 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to introduce the field of bioinformatics to financial modelling. It focuses on the way information informs price, and constructs a framework to explain information generation and the agglomeration process, enabling the reader to make more effective financial decisions. Based on all aspects of applied finance, this book uses informational analysis to help the reader understand the similarities between biomathematics and financial mathematics.
Author : Daniel R. Solin
Publisher : Penguin
ISBN 13 : 9780399532832
Total Pages : 204 pages
Book Rating : 4.5/5 (328 download)
Download or read book The Smartest Investment Book You'll Ever Read written by Daniel R. Solin and published by Penguin. This book was released on 2006 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a plan for personal financial success that emphasizes the use of trusted, brand-name fund managers, and shows investors how to create and monitor portfolios while avoiding common investment mistakes.
Author : Sio-Iong Ao
Publisher : Springer Science & Business Media
ISBN 13 : 1461423171
Total Pages : 418 pages
Book Rating : 4.4/5 (614 download)
Download or read book Electrical Engineering and Intelligent Systems written by Sio-Iong Ao and published by Springer Science & Business Media. This book was released on 2012-08-01 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: The revised and extended papers collected in this volume represent the cutting-edge of research at the nexus of electrical engineering and intelligent systems. They were selected from well over 1000 papers submitted to the high-profile international World Congress on Engineering held in London in July 2011. The chapters cover material across the full spectrum of work in the field, including computational intelligence, control engineering, network management, and wireless networks. Readers will also find substantive papers on signal processing, Internet computing, high performance computing, and industrial applications. The Electrical Engineering and Intelligent Systems conference, as part of the 2011 World Congress on Engineering was organized under the auspices of the non-profit International Association of Engineers (IAENG). With more than 30 nations represented on the conference committees alone, the Congress features the best and brightest scientific minds from a multitude of disciplines related to engineering. These peer-reviewed papers demonstrate the huge strides currently being taken in this rapidly developing field and reflect the excitement of those at the frontiers of this research.
Author : Daniel Kreutzmann
Publisher : Logos Verlag Berlin GmbH
ISBN 13 : 3832525297
Total Pages : 141 pages
Book Rating : 4.8/5 (325 download)
Download or read book Company Valuation and Information in Analyst Forecasts written by Daniel Kreutzmann and published by Logos Verlag Berlin GmbH. This book was released on 2010 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis focuses on the three primitive value drivers of each company valuation model that is based on fundamental analysis: the discount rate, the expected future payoffs during the explicit forecasting period, and the terminal value at the end of the explicit forecasting period. While the first factor is analyzed theoretically by incorporating the government into the classical valuation framework, this thesis studies the other two factors by investigating forecasts made by professional investors, i.e. financial analysts. In the first part we show that the government's and the shareholders discount rate usually differ and analyze how the government's and shareholders different objectives lead to conflicts in the context of capital budgeting. The empirical part of this thesis shows that macroeconomic information is frequently used by financial analysts when updating their earnings expecations and that target price forecastsmade by financial analysts can be used to predict abnormal returns.
Author : W. Fong
Publisher : Springer
ISBN 13 : 1137381736
Total Pages : 287 pages
Book Rating : 4.1/5 (373 download)
Download or read book The Lottery Mindset: Investors, Gambling and the Stock Market written by W. Fong and published by Springer. This book was released on 2014-12-07 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial markets are growing in complexity, and there is an increased risk that investors are led to investment products and strategies they do not fully understand. The crisis-ridden decade of the 2000s is a stark reminder of how poorly managed finances can wreak havoc on household finances. Traditional finance assumes that all investors are risk-averse and require a risk premium from investing in risky assets such as stocks. However, recent developments in behavioural finance show that many individual investors often adopt strategies that lead to serious investment missteps, including over-investing in lottery-type stocks and securities. Lottery-type securities in fact attract investors who may be risk-seeking or are strongly influenced by cognitive biases ranging from overconfidence to being over-optimistic about future investment returns, especially during periods of high sentiment. Drawing on existing and new research, The Lottery Mindset summarizes the behavioural motivations and detrimental impact of investment strategies which are popular with individual investors. Wai-Mun Fong provides insight and guidance on behavioural biases, and successful investment. By both reviewing and contributing to exiting literature on this topic, this book will be of use to academics and general readers alike.
