We explore the predictive relation between high-frequency investor sentiment and stock market returns. Our results are based on a proprietary dataset of high-frequency investor sentiment, which is computed based on a comprehensive textual analysis of sources from news wires, internet news...

Contrarian investors attempt to buy low and sell high in stock markets. They may demand gold to secure their gains when they sell their winning portfolios, as they need marketable securities. On the other hand, when investors find an opportunity to buy stocks at lower prices, they may demand...

We study the intertemporal risk-return tradeoff relations based on returns from 18 international markets. We find striking new empirical evidence that the inclusion of U.S. market returns significantly changes the estimated risk-return tradeoff relations in international markets from mostly...