For over half a century, financial experts have regarded the movements of markets as a
random walk--unpredictable meanderings akin to a drunkard's unsteady gait--and this …

In this paper, an artificial neural network method is applied to forecast the end-of-year net
asset value (NAV) of mutual funds. The back-propagation neural network is identified and …

Fees charged by mutual funds include front‐end load charges, deferred sales charges that
decrease over time, redemption fees that are imposed whenever shares are sold, and 12b‐1 …

We construct portfolios of stocks and bonds that are maximally predictable with respect to a
set of ex-ante observable economic variables, and show that these levels of predictability …

This paper indirectly tests the efficient markets hypothesis by analysing the performance of
30 authorised unit trusts from 1980 through 1989. The risk-return relationship of the funds is …

This paper investigates the investment performance of Malaysian Islamic equity funds and a
matching sample of conventional equity funds relative to their market benchmark. An …

Security Analysis, Portfolio Management, and Financial Derivatives integrates the many
topics of modern investment analysis. It provides a balanced presentation of theories …

Portfolio diversification involves lowering the correlation between portfolio assets to achieve
improved risk–return exposure. It is reasonable to infer from the classic Anscombe quartet …

This paper examines the investment performance of US ethical equity mutual funds relative
to the market and their traditional counterparts using a survivorship-bias-free database. We …

This paper uses unique data on the shareholdings of both institutional and individual
investors to directly investigate whether institutional investors have better stock selection …