Quantifying U.S. Treasury Investor Optimism

2021 ◽  
Author(s):  
Zhengyang Jiang ◽  
Hanno Lustig ◽  
Stijn Van Nieuwerburgh ◽  
Mindy Z. Xiaolan
Keyword(s):  
Investor Optimism

Pre-Issue Investor Optimism and Post-Issue Underperformance

2008 ◽  
Vol 64 (5) ◽  
pp. 77-87 ◽  
Author(s):  
Bingsheng Yi ◽  
Mohamed H. El-Badawi ◽  
Barry Lin
Keyword(s):  
Investor Optimism

scholarly journals Stock Returns And Disagreement Among Sell-Side Analysts

2018 ◽  
Vol 34 (3) ◽  
pp. 487-496
Author(s):  
Jeffrey Hobbs ◽  
David L. Kaufman ◽  
Hei-Wai Lee ◽  
Vivek Singh
Keyword(s):  
Asymmetric Information ◽  
Stock Returns ◽  
Empirical Analysis ◽  
Stock Prices ◽  
Difference Of Opinion ◽  
Investor Optimism ◽  
The Difference ◽  
Opposing Effects

Asymmetric information, investor optimism, and unbiased prices hypotheses are the main hypotheses proposed for explaining how investors’ difference of opinion may impact stock returns. We use a new measure for divergence in investor beliefs among sell-side analysts to test these three hypotheses.  Our initial findings are not supportive of either the asymmetric information or the investor optimism hypotheses.  However, since these two hypotheses predict opposing effects of divergence in opinion on stock returns, the effects could neutralize their respective impacts on stock prices.  Our further empirical analysis though suggests that this is not the case.  The weight of the evidence presented suggests thatwithin the sell-side, the difference of opinion does not impose a bias on future stock returns.

scholarly journals Profits From Buying Losers And Selling Winners In The London Stock Exchange

2011 ◽  
Vol 1 (11) ◽  
Author(s):  
Antonios Antoniou ◽  
Emilios C. Galariotis ◽  
Spyros I. Spyrou
Keyword(s):  
Market Efficiency ◽  
Stock Returns ◽  
Stock Exchange ◽  
London Stock Exchange ◽  
Stock Portfolios ◽  
Contrarian Strategies ◽  
Subsequent Period ◽  
Investor Optimism ◽  
Investor Behaviour ◽  
Market Capitalisation

<p>DeBondt and Thaler (1985) have challenged the notions of market efficiency and of rational investor behaviour. According to their findings stock portfolios that experience negative returns tend to outperform portfolios that experience positive returns, during the subsequent period. In other words, stock returns may be predictable, and this may be due to excessive investor optimism and pessimism. This paper investigates the existence of such contrarian profits for stocks listed in the London Stock Exchange. The results indicate that contrarian strategies are profitable for UK stocks and more pronounced for extreme market capitalisation stocks. These profits persist even after the sample is adjusted for market frictions, and irrespective of whether raw or risk-adjusted returns are used.</p>

Investor Optimism & Security Pricing

1964 ◽  
Vol 20 (5) ◽  
pp. 130-132
Author(s):  
Ann H. Sargeant
Keyword(s):  
Security Pricing ◽  
Investor Optimism
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