We present empirical evidence that the Thai exchange rate is driven in part by international investors' cross-border portfolio rebalancing decisions. Our results are based on two comprehensive, daily-frequency datasets of foreign exchange and equity market capital flows undertaken by nonresident...

Stock market populism- investment clubs and economic history -- Investment clubs as markets in microcosm -- Group composition & the business case for diversity -- Getting ahead versus getting along-decision making in investment clubs -- Reflections on investing in the 1990s -- Implications and...