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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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2019
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| Subjects: | |
| 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 |