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| Author: | Stevenson, S. |
| Title: | A performance evaluation of portfolio managers: tests of micro and macro forecasting |
| Journal: | European Journal of Finance
2004 : OCT, VOL. 10:5, p. 391-411 |
| Index terms: | Irish Republic Marketing Models |
| Freeterms: | Market timing Micro/macro forecasting Portfolio managers |
| Language: | eng |
| Abstract: | This paper investigates the performance of irish domiciled funds over the period 1988 to 2000. The paper specifically examines whether Irish portfolio managers, particularly in macro forecasting. Four alternative models are used to jointly assess micro and macro forecasting while a fifth non-parametric model is used to solely examine market timing effects. The results gives consistent evidence of poor micro forecasting/stock selection ability across the funds examined. |
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