a proprietary dataset that has the investments of banks at the security level for 2005-2012 in conjunction with the … their investments in securities, especially in those that had a larger price drop, with the strongest impact in low …

We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2018. In contrast … to the view that buying assets during banking crises is a profitable long-run strategy, we find returns of equity and … other asset classes generally underperform after banking crises. While prices are depressed during crises and partially …