Our study highlights the NFT rarity as a key determinant of price premium in the cross-
section. Moreover, well-connected investors, who establish their central positions in the NFT …

This research explores the effects of adding bitcoin to an optimal portfolio (naïve, long-only,
semi-constrained with and without bitcoin shorting) by relying on the mean-CVaR approach …

It is increasingly recognized that a transition to sustainable finance is crucial to scale up the
low-carbon investments needed to achieve the global climate targets. A main barrier to …

Many papers in recent years have examined the benefits of adding alternative assets to
traditional portfolios containing stocks and bonds. Bitcoin has emerged as a new alternative …

A fully revised second edition of the best guide to high-frequency trading High-frequency
trading is a difficult, but profitable, endeavor that can generate stable profits in various …

Existing studies of mutual fund market timing analyze monthly returns and find little evidence
of timing ability. We show that daily tests are more powerful and that mutual funds exhibit …

The paper provides a critical review of empirical findings on the performance of mutual
funds, mainly for the US and UK. Ex‐post, there are around 0‐5% of top performing UK and …

Numerous measures have been proposed to gauge the performance of active management.
Unfortunately, these measures can be gamed. Our article shows that gaming can have a …

We present methods for optimizing portfolios, asset allocations, and trading systems based
on direct reinforcement (DR). In this approach, investment decision-making is viewed as a …

We investigate a hybrid quantum-classical solution method to the mean-variance portfolio
optimization problems. Starting from real financial data statistics and following the principles …