A significant topic within the behavioral finance literature is the notion of perceived risk
pertaining to novice investors (ie individuals, finance students) and investment professionals …

This paper investigates the effects of preferences on judgments in an investing context,
where investors should be motivated to interpret information objectively, yet have clear …

Of course, our proposal of an algorithm, or dynamic portfolio, as an index is a significant
departure from the norm. Existing indexes such as the S&P 500 are defined as baskets of …

The notion of risk encompasses a wide range of meanings across different disciplines,
notably the social sciences and business administration fields. Within academic finance, the …

Factor investing has emerged from the asset management world as the new paradigm for
long-term investment. It attracted fresh interest after the publication of a report on active …

Although investors are concerned foremost with mean and variance, they are also sensitive
to downside risk. In this article we employ several risk variables of traditional and downside …

Enhanced active equity strategies, including 120–20 and 130–30 long–short portfolios, have
become increasingly popular as managers and investors search for new ways to expand the …

在考察投资者信念形成影响因素的基础上, 提出了股票市场中投资者异质信念的假设.
并据此推导出了一个基于异质信念的风险资产价格均衡模型. 这一模型从理论上证明了对股票 …

Using three natural experiments, we test the hypothesis that investor overconfidence
produces overpricing of high idiosyncratic volatility stocks in the presence of binding short …

The Portfolio Selection Model developed by Markowitz in the 1950s offers a theore-cally
founded approach to combining securities into a utility-optimizing investment portfolio, that …