Complex bubble persistence in Closed-end country funds

Article Abstract:

A study of six closed-end country funds (CECF's) shows the presence of speculative bubbles despite the presence of sound net asset values. The presence of speculative bubbles are shown to be closely related to noise traders, as well as some private and government entities called Big Players. In the case of CECF's, Nomura Securities and other New York branches of Japanese securities firms were identified as Big Players during the latter part of 1989 and earlier part of 1990.

Other Financial Vehicles, Investment offices, not elsewhere classified, Mutual Funds (Closed End), Analysis, Economic aspects, Economic research, Securities industry, Mutual funds, Closed end mutual funds

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Volatility via social flaring

Article Abstract:

Models of socially coupled flare attractor systems have the potential to mimic the kurtotic behavior that is evident in many financial markets. The behavior of the system becomes more nuanced and complex because of large number of agents.

Models, Learning, Organizational research, Organizational behavior, Organizational behaviour

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Does society benefit from investor overconfidence in the ability of financial market experts?

Article Abstract:

Overconfidence of the investor in the form of over trust in the market experts enhances liquidity and brings down transaction costs. Such irrational beliefs can be beneficial to all traders in the financial markets.

Financial management, Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Financial services industry, Investor relations

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