TY - JOUR T1 - Are Hedge Fund Managers Better Able to Forecast Real Estate Security Returns than Others? JF - The Journal of Portfolio Management SP - 165 LP - 174 DO - 10.3905/jpm.2007.699612 VL - 33 IS - 5 AU - Richard Chung AU - Scott Fung AU - James D. Shilling AU - Tammie X. Simmons-Mosley Y1 - 2007/09/30 UR - https://pm-research.com/content/33/5/165.abstract N2 - Tests of whether hedge fund managers are better able to forecast real estate securities returns than others are reported in this article. Two main conclusions follow from the estimation results. First, it appears that real estate securities hedge fund managers may have some superior forecasting skills. Second, there is evidence that hedge fund managers prefer real estate securities that are larger, have a higher beta, and a higher residual standard deviation. The results reported are consistent with the hypothesized effects.TOPICS: Real estate, risk management ER -