Topic: Markets
Is Anyone Happy about the College Textbook Market?
Buyers find the tomes heavy, costly and too frequently revised, while sellers might like to kill the used book market entirely
Keynes vs. FDR: Lessons from the Great Recession
Sebastian Edwards finds Keynes’ public take-down of Roosevelt’s gold policies still relevant today
Market Bubbles Aren’t Entirely Irrational Exuberance
A model examines the relationships between innovation, speculation and market values
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
Often Reviled, Short Sellers Are Newly Vulnerable to the Meme Mob
A short squeeze can ripple across short sellers’ positions
One European Country Defaults: How Hard-Hit Is the Euro?
A predictive model employs credit default swaps across currencies
Out of the 1990s Asian Crisis, a New Bond Market Rises
Local currency sovereign bonds transfer risk from issuer to buyer
Rethinking Buy-and-Hold Investing
The case for using rising market volatility as a signal to pare back on stocks — does higher risk always mean higher return?
Separating Auditing from Consulting: More Complex than it Seems
Market concentration, price and quality drive choice of firms
The Collective Wisdom of Options Trades as Interest Rate Predictor
Skewness, measuring the range of biases, strongly suggests rate moves
The Limited Payoff in Auto Insurance Advertising
Ads aimed at brand awareness are shown to be more effective
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
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
Treasury Securities Are Actually Cheap Sometimes
They don’t trade at an absolute equal to intrinsic value, despite their image as the world’s investment bedrock
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
What Happens to Pesos When Dollars Go Digital?
As major central banks adopt digital currency, emerging countries will feel mixed effects