Student Recommendations and Subsequent Stock Returns for Smif Investments

14 Pages Posted: 28 May 2021

See all articles by Marcus Allan Ingram

Marcus Allan Ingram

Sykes College of Business, University of Tampa

Date Written: May 27, 2021

Abstract

This paper measures the predictive power of buy-sell-and-hold recommendations made by students engaged in the management of a student-managed investment fund (SMIF). In their roles as analysts and portfolio managers for the SMIF, undergraduate students were required to follow traditional security analytical techniques such as discounted cash flow analysis and comparative valuation that were taught in the introductory investment management class, which is a pre-requisite. We evaluated the stock price performance of the stocks which the students analyzed across multiple holding periods, following student recommendations to buy, sell, or hold. We also compared the recommendations of the student-analysts to the contemporaneous recommendations of sell-side equity analysts.

Keywords: SMIF, portfolio management, student fund

JEL Classification: G11

Suggested Citation

Ingram, Marcus Allan, Student Recommendations and Subsequent Stock Returns for Smif Investments (May 27, 2021). Available at SSRN: https://ssrn.com/abstract=3854896 or http://dx.doi.org/10.2139/ssrn.3854896

Marcus Allan Ingram (Contact Author)

Sykes College of Business, University of Tampa ( email )

401 W. Kennedy Blvd.
Tampa, FL 33606-1490
United States

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