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Topic: Markets

A city full of smog Research Brief / Stock Returns

Your Chinese Supplier Pollutes – It Dents Your Stock Price?

The market penalizes customers' shares more than those of the polluter

Stack of papers in folders Research Brief / Home Mortgages

Clues to the Market When Mortgage Originators Delay Securitization

With high-quality borrowers hard to judge from afar, Alt-A market offers quiet signal on creditworthiness

Illustration balance of risk and reward on a scale Research Brief / Stock Returns

The Strange Case of the Missing Stock Market Return

Investors in leveraged companies take on extra risk, but research indicates they see no offsetting return

Illustration of two dice Research Brief / Investing

You Call That Fun? Why Individual Stock Investors Bother

Avanidhar Subrahmanyam studies how some investors’ gambling mentality affects share prices

Monochrome picture of children cheering Research Brief / Investing

When Younger Investors Overreact to News, Others Feel It

Inexperienced investors, lacking historical context, impact markets

Closeup shot of newspapers Research Brief / Finance

Does Big News Drown Out Corporate Earnings Disclosures?

Henry Friedman’s research finds, surprisingly, that major economic news actually heightens attention paid to company announcements

Chinese investors having a discussion Research Brief / Investing

In China, Big Investors Have Brilliant Timing ― Or Do They Know Someone?

A scan of a million brokerage accounts finds the wealthy trade ahead of market-moving news

Illustration of a balance Research Brief / Investing

How Very Small Stocks Skew Investing Wisdom

Well-known market anomalies are largely absent among the biggest stocks

A group of people on separate phone lines Research Brief / Markets

Financial Constraints on Intermediaries Cause Asset Mispricing

Real-world bond data reveals how the capital positions and liquidity of middlemen affect prices of securities they broker

Two people watching a Progressive Insurance ad on TV Research Brief / Advertising

The Limited Payoff in Auto Insurance Advertising

Ads aimed at brand awareness are shown to be more effective

Guillermo Moreno Research Brief / Economics

Citizens Are Not Fooled by Fake Statistics

What happened when the Argentine government lied about inflation numbers?

A castle with a moat Research Brief / Investing

The Moat That Keeps Complex Asset Strategies Profitable

Andrea Eisfeldt finds that hedge funds with infrastructure to execute sophisticated arbitrage crowd out less-expert investors

Monochrome photo of FDR Research Brief / Economics

Keynes vs. FDR: Lessons from the Great Recession

Sebastian Edwards finds Keynes’ public take-down of Roosevelt’s gold policies still relevant today

New York Met Life building Research Brief / Investing

How Life Insurers Insulate the Markets from Turmoil

Valentin Haddad’s research finds that insurers’ patient investing shields risky assets — and those who hold them — from steeper declines

Stock market ticker displays Feature / Stock Returns

New Appreciation for a Classic Stock Market Gauge

The relationship between short- and longer-term moving averages has strong predictive power for share price returns

Bar and line chart Research Brief / Corporate Finance

What Drives LBO Fever? More Than Just Cheap Loans

Private equity investors weigh the total cost of capital — not just debt, but equity as well — when pursuing buyouts