activity and performance of actively managed U.S. equity funds from 2000 to 2007 and document robust evidence that future … performance is positively related to past stock picking and negatively associated with past market timing. Finally, we find that … performance while market timing decreases performance. …

relative to single managers. During the financial crisis, however, the performance premium of teams becomes negative, which may …

fund managers during the 2007-08 financial crisis. Design/methodology/approach – The performance of a market timer can be … deliver economic significant performance, even in the midst of the financial crisis. Negative market timers, by contrast … performance adjusted for market timing. Originality/value – The paper suggests that the convexity in returns that is generally …

performance of over 10 percent p.a. Originality/value – Given this increase and the volatile nature of hedge fund biases, we …

This paper compares the performance results of Spanish mutual fund managers and the market timing results obtained …

This paper compares the performance results of Spanish mutual fund managers and the market timing results obtained …

. In particular, portfolio performance, measured by the Sharpe ratio relative to the tangency portfolio, varies … significantly with liquidity. Moreover, although mean-variance performance becomes clearly worse, the levels of liquidity on optimal …