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Finance and Financial Management Commons™
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Full-Text Articles in Finance and Financial Management
Are Us Economic Variables Useful For Chinese Stock Market Forecasts?, Knowledge@Smu
Are Us Economic Variables Useful For Chinese Stock Market Forecasts?, Knowledge@Smu
Knowledge@SMU
It is commonly thought that the economic systems of the world's two largest economies distinct, and so one's experience may not necessarily inform the other. Yet, a new study that compares and analyses stock market data from both countries offers a contrarian view. Undertaken by a PhD candidate at SMU's Lee Kong Chian School of Business, this study was recently presented at the HU-HUE-SKBI Tripartite Conference.
Attributes For Successful Fund Management: Experience Or Education?, Knowledge@Smu
Attributes For Successful Fund Management: Experience Or Education?, Knowledge@Smu
Knowledge@SMU
Successful fund management is no longer about having “rock star” fund managers, but a team, made up of mutually respecting members bringing them with a mix of the right education, and the relevant experience, said Simon Davies, executive chairman of Threadneedle Investments, at a seminar at SMU.
Markowitz 2.0: Innovations For Asset Allocation, Knowledge@Smu
Markowitz 2.0: Innovations For Asset Allocation, Knowledge@Smu
Knowledge@SMU
The idea of conducting financial analysis on asset classes, while widely accepted today, was a new concept in the 1950s. It was so new that Nobel Prize winner in economics Harry Markowitz almost did not receive his doctorate because his thesis on portfolio optimisation was deemed as “not economics” by his supervisor. Dr Paul Kaplan, quantitative research director at Morningstar, introduces an updated model of Markowitz’s portfolio optimisation model at a seminar in SMU.
Walking The Talk Of Wall Street, Knowledge@Smu
Walking The Talk Of Wall Street, Knowledge@Smu
Knowledge@SMU
Years after he theorised that a blindfolded monkey throwing darts at stock listings can select a portfolio that would perform as well as one chosen by experts, Princeton economist Burton Malkiel is sticking by it. In the tenth edition of his investment classic, A Random Walk Down Wall Street, Malkiel explains why the experts are overrated, and why sticking with a buy-and-hold strategy using a broad stock market index fund will outperform the professionally managed ones.
Hedge Funds And Analyst Conflict Of Interest, Sung Gon Chung, Melvyn Teo
Hedge Funds And Analyst Conflict Of Interest, Sung Gon Chung, Melvyn Teo
Research Collection School Of Accountancy
Are sell-side analysts reluctant to go against the investment views of their hedge fund clients? We show that analysts tend to upgrade stocks recently bought and downgrade stocks recently sold by hedge funds. Relative to other buy and strong buy recommendations, similar recommendations on stocks predominantly held by hedge funds parlay into poorer three-month and six-month stock returns. Hedge funds concurrently offload their stock holdings when analysts issue flattering reports. In line with an agency based explanation, our results are more pronounced for important brokerage clients such as high dollar turnover hedge funds and hedge funds who are prime brokerage …
Large Mutual Fund Families: Bigger May Not Always Be Better, Knowledge@Smu
Large Mutual Fund Families: Bigger May Not Always Be Better, Knowledge@Smu
Knowledge@SMU
Investments are vital to one’s financial freedom. But investment strategy is an art which not everybody can master. Those who are new to investing may see mutual funds as an easy tool to make money. It has been traditionally thought that larger mutual fund families tend to perform better than their smaller counterparts. Do they really?
Financial Literacy And Numerical Ability: Keys To Better Mortgage Outcomes, Knowledge@Smu
Financial Literacy And Numerical Ability: Keys To Better Mortgage Outcomes, Knowledge@Smu
Knowledge@SMU
The US mortgage crisis and its dire after effects have highlighted the criticality of financial literacy. And while most people would have picked up fundamental mathematical principles in schools, not everyone appreciates how arithmetic translates within the complex world of finance. Yet, given what has transpired with the subprime crisis, is it important for borrowers to appreciate complicated financial concepts before taking up a loan? A study of the US mortgage market, presented at a SMU School of Economics Seminar Series, provides some clues as it uncovers links between basic numerical skills and financial fate.
Risk Management In A Volatile Market, Knowledge@Smu
Risk Management In A Volatile Market, Knowledge@Smu
Knowledge@SMU
The September 2008 collapse of Lehman Brothers was the 9/11 on Wall Street. Since then, the global risk landscape has changed and swings in the equity markets have become more volatile Now, a study of statistically significant changes in global financial risks and sharp increases in conditional Value-at-Risk after September 2008 has suggested a technically superior technique for effective risk management.