Using a novel database, we show that the stock-price impact of analyst trade ideas is at least as large as the impact of stock recommendation, target price, and earnings forecast changes, and that investors following trade ideas can earn significant abnormal returns. Trade ideas triggered by...

This chapter begins with a brief history of hedge funds from the perspective of hedge fund investors—exploring the attributes that attracted private, wealthy investors to an opaque, nascent hedge fund industry during the decades leading up to new millennium. Following the chronology of several...

Stock picking is the field of financial analysis that is of particular interest for many professional investors and researchers. In this study stock picking is implemented via binary classification trees. Optimal tree size is believed to be the crucial factor in forecasting performance of the...