Abstract

http://ssrn.com/abstract=994513
 


 



The Delivery of Market Timing Services: Newsletters Versus Market Timing Funds


Alex Kane


University of California, San Diego (UCSD) - Graduate School of International Relations and Pacific Studies (IRPS)

Stephen Gary Marks


affiliation not provided to SSRN

August 1991

NBER Working Paper No. t0075

Abstract:     
This paper examines the dissemination of market timing information (signals on the overall performance of risky assets relative to the risk free rate). We consider two delivery systems. Under the newsletter delivery system market timing information is disseminated solely through newsletter. Under the fund delivery system, timers set up timing funds in which investors can invest. In the absence of market imperfections we find that both systems produce the same result. With restrictions on borrowing or with other nonlinearities we find the newsletter system to be superior. This is one possible explanation for the plethora of market timing newsletters and the paucity of market timing funds.

Number of Pages in PDF File: 28

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Date posted: June 27, 2007  

Suggested Citation

Kane, Alex and Marks, Stephen Gary, The Delivery of Market Timing Services: Newsletters Versus Market Timing Funds (August 1991). NBER Working Paper No. t0075. Available at SSRN: http://ssrn.com/abstract=994513

Contact Information

Alex Kane (Contact Author)
University of California, San Diego (UCSD) - Graduate School of International Relations and Pacific Studies (IRPS) ( email )
9500 Gilman Drive
La Jolla, CA 92093-0519
United States
Stephen Gary Marks
affiliation not provided to SSRN
No Address Available
Feedback to SSRN


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