Abstract

http://ssrn.com/abstract=1656962
 
 

Citations



 


 



Relative Sentiment and Stock Returns


Roger M. Edelen


University of California, Davis - Graduate School of Management

Alan J. Marcus


Boston College - Department of Finance

Hassan Tehranian


Boston College - Department of Finance

August 11, 2010

Financial Analysts Journal, Vol. 66, No. 4, pp. 20-32, 2010

Abstract:     
The sentiment of retail investors relative to that of institutional investors was measured by comparing their respective portfolio allocations to equity versus cash and fixed-income securities. The results suggest that fluctuations in retail sentiment are a primary driver of equity valuations for reasons unrelated to fundamentals.

Keywords: Portfolio Management, Asset Allocation, Equity Portfolio Management Strategies, Equity Investments, Equity Market Valuation and Return Analysis

Accepted Paper Series


Not Available For Download

Date posted: August 11, 2010  

Suggested Citation

Edelen, Roger M. and Marcus, Alan J. and Tehranian, Hassan, Relative Sentiment and Stock Returns (August 11, 2010). Financial Analysts Journal, Vol. 66, No. 4, pp. 20-32, 2010. Available at SSRN: http://ssrn.com/abstract=1656962

Contact Information

Roger M. Edelen (Contact Author)
University of California, Davis - Graduate School of Management ( email )
One Shields Avenue
Davis, CA 95616
United States
Alan J. Marcus
Boston College - Department of Finance ( email )
Fulton Hall
Chestnut Hill, MA 02467
United States
617-552-2767 (Phone)
617-552-0431 (Fax)
Hassan Tehranian
Boston College - Department of Finance ( email )
Carroll School of Management
140 Commonwealth Avenue
Chestnut Hill, MA 02467-3808
United States
617-552-3944 (Phone)
617-552-0431 (Fax)
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