Further Evidence on the Value of Professional Investment Research

14 Pages Posted: 3 May 2004 Last revised: 17 Jul 2010

See all articles by Kenneth L. Stanley

Kenneth L. Stanley

Valdosta State University; National Bureau of Economic Research (NBER)

Wilbur G. Lewellen

Purdue University; National Bureau of Economic Research (NBER)

Gary G. Schlarbaum

Morgan Stanley; National Bureau of Economic Research (NBER)

Date Written: August 1980

Abstract

This paper shall consider not only the potential for individual investors to exploit one of the major categories of professional investment advice to earn superior portfolio returns, but also will examine the actual return experiences of a representative sample of investors who were, in fact, observed to trade on such advice.

Suggested Citation

Stanley, Kenneth L. and Lewellen, Wilbur (BIll) Garrett and Schlarbaum, Gary G., Further Evidence on the Value of Professional Investment Research (August 1980). NBER Working Paper No. w0536, Available at SSRN: https://ssrn.com/abstract=264372

Kenneth L. Stanley (Contact Author)

Valdosta State University ( email )

Langdale College of Business Administration
Valdosta, GA 31698
United States
229-563-5349 (Phone)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Wilbur (BIll) Garrett Lewellen

Purdue University ( email )

West Lafayette, IN 47907-1310
United States
317-494-4397 (Phone)
317-494-9658 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Gary G. Schlarbaum

Morgan Stanley

1585 Broadway
New York, NY 10036
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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