We show that key congress characteristics influence stock market outcomes, and under-diversified congress depresses the performance and upsurge the volatility in the stock market. Our key hypotheses is that congress background influences type, quantity and quality of bills passed, and hence...

An analysis of the Survey of Consumer Finance shows that wealthy investors have a higher return on their stocks than their poorer counterparts. Three key empirical facts emerge: (i) wealthy investors employ more productive search efforts, (ii) financial risk bearing and search efforts are...

We perform 360 review on the United Arab Emirates (UAE) geopolitical and economical status to analyze its strengths and weaknesses. The UAE in 2020 is ranked top 22 around the world, and best ranking category is in ‘movers’ (top 1), while adventure and heritage are worst categories (top 63,...

We employ several technical analyses models and account for investor’s sentiment to establish a benchmark on the optimal time to entry or to exit from the Bitcoin market. Unlike companies that they have quarterly earnings, Bitcoin is not a company with earning. Yet, we argue the Bitcoin...

Latest SCF 2016 wave shows that 57% of US households exhibit signs of financial illiteracy, a phenomenon even among college degree holders. Despite the previous findings about mistakes associated by financial illiterates, our findings portrays a picture in which financial illiterates households...

Barber and Odean (2000) study the relationship between trading frequency andreturns. They find that households who trade more frequently have a lower net return than other households. But all households have about the same gross return. They argue that these results cannot emerge from a model...

This paper studies the dynamic optimization problem of a household when portfolio adjustment is costly. The analysis is motivated by the observation that on an annual basis, less than 71% of stockholders typically adjust their portfolio of common stocks. We use this, and related observations, to...

Real oil prices (WTI spot) are lower under Democratic presidencies than Republican presidencies by $4.7 - $9.7 per barrel, the results are statistically significant and robust, including subsamples and accounting for business cycles fluctuations. We find that during Democratic presidencies, the...

We develop a parsimonious econometrics methodology to estimate individual's portfolio return process accounting for self-selection bias from portfolio adjustment; our approach is useful to assist investors learning own return process profile. We study three components to characterize investor's...

This study analyzes the financial opportunities that the new Artificial Intelligence (AI) innovation presents. We first present what is AI in finance and then our analysis is broken down into two themes. First, we display the current and projected AI revenue by sector, technology type, and...