Returns to contrarian investment strategies: tests of naive expectations hypotheses

Article Abstract:

As opposed to Lakonishok, Shleifer and Vishny, there is no scientific proof that the returns of contrarian plans ensue because investors gullibly approximate previous sales or earnings gain. More than half of the returns of the contrarian strategies can be credited to the inexperienced dependence of investors on the long-term earnings gain predictions of analysts.

Open-End Investment Funds, Investment Funds & Trusts, HOLDING AND OTHER INVESTMENT OFFICES, Financial Forecasting, Analysis, Management, Investors, Investment analysis, Securities analysis, Business forecasting

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Short-sellers, fundamental analysis, and stock returns

Article Abstract:

This research finds that short sellers invest in overpriced securities with low ratios of fundamentals to market values . They cover their positions and wait for values to revert. They select stocks with temporarily high prices and low fundamentals ratios.

Purchasing, Stocks, Short selling

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Portfolio choice and dquity characteristics: characterizing the hedging demands induced by return predictability

Article Abstract:

Returns on investments are higher in high book-to-market companies and in small firms, a hedging demand. Low book-to-market securities should be sold, according to this model.

Personal Financial Mgmt, Statistical Data Included, Models, Personal finance, Portfolio management, Risk (Economics), Hedging (Finance)

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