PT - JOURNAL ARTICLE AU - Ryan Garvey AU - Anthony Murphy AU - Fei Wu TI - Do Losses Linger? AID - 10.3905/jpm.2007.690608 DP - 2007 Jul 31 TA - The Journal of Portfolio Management PG - 75--83 VI - 33 IP - 4 4099 - https://pm-research.com/content/33/4/75.short 4100 - https://pm-research.com/content/33/4/75.full AB - How might professional stock traders be influenced by their recent trading performance? Results here show that, in aggregate, when traders incur morning losses, their desire to recover before the close of trading prompts more aggressive trading in the afternoon. This behavior is consistent with behavior underlying the disposition effect. An analysis of individual trading performance reveals that traders who are more influenced by their earlier trading losses perform far more poorly than those who are less influenced.TOPICS: Risk management, statistical methods, portfolio theory