Measuring the effective skill of a professional money manager in generating yields has Always been a disputable matter in the fund management literature. This paper evaluates the performance of the Morningstar Ultimate Stock-Pickers index with portfolio opportunity distributions, i.e. the stocks...

The literature examining mutual fund performance is vast and researchers have studied the performance of professional money managers extensively, but there is still an ongoing debate whether or not mutual fund managers have stock picking skills. This article investigates the profitability of...

Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of...

Romania's domestic demand boom over the past few years has led to rapidly widening current account deficits, reaching an estimated 13½% of GDP in 2008. High private sector dissaving has been exacerbated by a procycylical fiscal policy, with the public deficit likely to exceed 3% of GDP in 2008....