Acknowledgements -- Introduction -- The partnership years (1957-1968) -- 1958: Sanborn map company -- 1961: Dempster Mill Manufacturing Company -- 1964: Texas National Petroleum Company -- 1964: American Express -- 1965: Berkshire Hathaway -- The middle years (1968-1990) -- 1967: national...

This thesis consists of three essays on the interaction of investor clienteles and mutual fund behavior. The first essay (Cici, Kempf, and Sorhage 2015, Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flowsʺ) adds to the literature on fund...

This article examines the risk and return characteristics of U.S. mutual funds. We employ an equilibrium version of the Arbitrage Pricing Theory (APT) and a principal-components-based statistical technique to identify performance benchmarks. We also consider the Capital Asset Pricing Model...