How Skilled are Hedge Funds? Evidence from their Daily Trades
We examine the trading skill of hedge funds using transaction-level data. After accounting for trading commissions, we find no evidence that the trades of the average hedge fund outperform across holding periods ranging from one month to one year. However, bootstrap simulations indicate that the tra...
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2012
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| 在線閱讀: | https://ink.library.smu.edu.sg/bnp_research/18 https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1017&context=bnp_research |
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| 機構: | Singapore Management University |
| 語言: | English |