Below is a weekly summary of our research findings for 10/5/20 through 10/9/20. These summaries give you a quick snapshot of our content the past week so that you can quickly decide what’s relevant to your investing needs.
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- From Irrational to Expressive and Emotional
Second-generation behavioral finance: (1) addresses everyday trade-offs among utilitarian, expressive and emotional wants, with frequent sacrifice of wealth to exercise social responsibility or achieve high social status; and, (2) distinguishes between non-utilitarian wants and investment errors, while still aware of cognitive/emotional errors committed in achieving wants. - Are Hedge Fund ETFs Working?
Evidence on attractiveness of hedge fund-oriented ETFs is mostly negative. - Choosing Investment Managers Poorly?
Evidence indicates that sophisticated investors pick investment managers based on past performance and social connections, but these factors do not help pick the best managers. - Asset Class ETF Seasonalities?
Available evidence weakly suggests a few commonalities and some differences in recent seasonalities among asset class ETFs. - Asset Class ETF Interactions with the Yuan
Evidence suggests that a strong (weak) yuan relative to the U.S. dollar is contemporaneously good (bad) for emerging market stocks and equities, but not for U.S. Treasury bonds. Yuan valuation changes are not predictive of returns for other classes.
