This study extends previous inquiries concerning positive (as opposed to normative) aspects of common-stock investor behavior and provides preliminary empirical evidence on the association between risk/return preferences and expectations for specified investor attributes.Part I of the study...

This study takes a novel approach to testing the efficacy of technical analysis. Rather than testing specific trading rules as is typically done in the literature, we rely on institutional portfolio managers' statements about whether and how intensely they use technical analysis, irrespective of...

A diverse set of measures allows investors to evaluate hedge fund portfolio managers' performance across different dimensions. The various measures quantify the effectiveness of security selection, account for investor flows, operating risk, and worst-case investment scenarios, net out benchmark...

This paper presents a unique test of the effectiveness of technical analysis in different sentiment environments by focusing on its usage by perhaps the most sophisticated and astute investors, namely hedge fund managers. We document that during high-sentiment periods, hedge funds using...

"The primary purpose of this scholarly book is to provide an objective look into the dynamic world of equity markets, valuation, and analysis. The coverage extends from discussing basic concepts and their application to increasingly intricate and real-world situations. This volume spans the...