Phân tích tư tưởng của nhân dân qua đoạn thơ: Những người vợ nhớ chồng… Những cuộc đời đã hóa sông núi ta trong Đất nước của Nguyễn Khoa Điềm
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Themore recent research of Sapp and Tiwari (2004), however, argues that the
smart money effect documented in prior studies is an artifact of these studies’
failure to account for themomentumfactor in stock returns. Their argument can
be synthesized as follows. Stocks that perform well tend to continue doing well
(Jegadeesh and Titman (1993)). Investors tend to put their money into ex post
best-performing funds. These funds necessarily have disproportionate hold-
ings of ex post best-performing stocks. Thus, after buying into winning funds,
investors unwittingly benefit from momentum returns on winning stocks. ...
Nội dung trích xuất từ tài liệu:
Which Money Is Smart? Mutual Fund Buys and Sells of Individual and Institutional Investors
