Testing the Halloween Effect
August 31, 2005 - Calendar Effects
…the average investor in the U.S. equities will have difficulty avoiding relatively poor returns during the summer. They should focus on the winter months.
August 31, 2005 - Calendar Effects
…the average investor in the U.S. equities will have difficulty avoiding relatively poor returns during the summer. They should focus on the winter months.
August 30, 2005 - Fundamental Valuation
…while changes in bond yields have short-term effects on stock prices, valuation ratios better forecast long-term stock market behavior.
August 27, 2005 - Buybacks-Secondaries
…the quality (more than the quantity) of emerging earnings moves corporate officers to adjust repurchasing and personal trading of company stock.
August 10, 2005 - Individual Investing
…individual investors can look at their own trading patterns for clustering to assess whether they act like big picture or little picture traders.
August 8, 2005 - Fundamental Valuation
…while there is a weak negative correlation between aggregate downward earnings guidance and monthly stock market returns, the stock market probably leads the guidance.
August 5, 2005 - Short Selling
…excess returns of the higher-priced stocks entering the Regulation SHO threshold list merit some consideration.
August 4, 2005 - Short Selling
…picking through the stocks leaving the Regulation SHO threshold lists may be worthwhile.
August 2, 2005 - Short Selling
…very recent data suggests that short sellers on average are contrarians who predict (or trigger?) near-term stock price underperformance. However, the underperformance is economically insignificant due to transaction and carrying costs.
August 1, 2005 - Momentum Investing
…the disposition effect may serve as the bootstrap of momentum investing by retarding the impact of good (bad) news for stocks with large unrealized capital gains (losses).
July 29, 2005 - Big Ideas
…a very good introduction to a range of investment styles for new (but diligent) investors and a refresher for experienced ones.