Text sophistication and sophisticated investors

Text sophistication and sophisticated investors

We show that two novel measures of text sophistication, applied to hedge fund strategy descriptions, encapsulate incremental information about funds. Consistent with the linguistics literature, hedge funds with lexically diverse strategy descriptions outperform, eschew tail risk, and encounter fewer...

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Bibliographic Details
Main Authors: JOENVAARA, Juha, KARPPINEN, Jari, TEO, Song Wee Melvyn, TIU, Cristian Ioan
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2019
Subjects:
hedge fund managers
investment strategies
lexically diverse descriptions
hedge fund performance
Finance and Financial Management
Portfolio and Security Analysis
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/6396
https://ink.library.smu.edu.sg/context/lkcsb_research/article/7395/viewcontent/Text_Sophistication_wp_2019Aug.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/lkcsb_research/6396
https://ink.library.smu.edu.sg/context/lkcsb_research/article/7395/viewcontent/Text_Sophistication_wp_2019Aug.pdf

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