haku: @author Graham, J. / yhteensä: 8
viite: 4 / 8
| Tekijä: | Graham, J. Harvey, C. |
| Otsikko: | Grading the performance of market-timing newsletters |
| Lehti: | Financial Analysts' Journal
1997 : NOV-DEC, VOL. 53:6, p. 54-66 |
| Asiasana: | FINANCIAL ANALYSIS PERFORMANCE MEASUREMENT ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | Many investment newsletters offer market-timing advice; that is, they are supposed to recommend increased stock market weights before market declines. Examination of the performance of 326 newsletter asset-allocation strategies for the 1983-95 period shows that as a group, newsletters do not appear to possess any special information about the future direction of the market. Nevertheless, investment newsletters that are on a hot streak may provide valuable information about future returns. |
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