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Collective Intelligence Market Model

38 Pages Posted: 17 Jul 2015 Last revised: 10 Nov 2015

C. Thomas Howard

University of Denver - Daniels College of Business; AthenaInvest

Date Written: November 9, 2015

Abstract

I provide a framework for organizing the equity markets estimating expected returns based on the collective intelligence of active equity mutual fund investment teams. Buy-side analysts, in particular, display considerable stock picking skill and by harnessing this skill, it is possible to intelligently organize the markets of both funds and individual stocks, as well as identify, by means of estimated expected returns, the best funds, the best idea stocks, and markets. The combination of these methodologies is referred to as the Collective Intelligence Market Model.

Keywords: mutual fund performance, selection skill, portfolio drag, Modern Portfolio Theory, portfolio management, conviction, tracking error

JEL Classification: G12, G15, C82

Suggested Citation

Howard, C. Thomas, Collective Intelligence Market Model (November 9, 2015). Available at SSRN: https://ssrn.com/abstract=2631237 or http://dx.doi.org/10.2139/ssrn.2631237

C. Thomas Howard (Contact Author)

University of Denver - Daniels College of Business ( email )

2101 S. University Blvd.
Denver, CO 80208
United States

AthenaInvest ( email )

5340 S Quebec St
Suite 365N
Greenwood Village, CO 80111
United States

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