Stock Market Fluctuations Are Driven by Investor Herd Behavior
policytensor.substack.com
FT AlphaVille linked to an interesting blog post by Nick Maggiulli on Dollars and Data that examined the long-run stock return predictability in terms of equity allocations. Nick shows that high allocations predict lower ten-year returns. Here's a replication of the main result.
Stock Market Fluctuations Are Driven by Investor Herd Behavior
Stock Market Fluctuations Are Driven by…
Stock Market Fluctuations Are Driven by Investor Herd Behavior
FT AlphaVille linked to an interesting blog post by Nick Maggiulli on Dollars and Data that examined the long-run stock return predictability in terms of equity allocations. Nick shows that high allocations predict lower ten-year returns. Here's a replication of the main result.