This article documents that hedge funds specializing in subprime mortgages did not take advantage of the housing bubble and they did not trade against it. Hedge fund capitalization is an important factor regarding how funds suffered during the crisis. Small funds suffered the most. Mid-cap...

Exchange Traded Funds (ETFs), including the innovative leveraged (long and inverse) types, and the ever more creative traditional versions, are accelerating in popularity as preferred investment and trading vehicles. Real estate, a major investment sector, has been made more accessible through...

We systematically examine industry momentum on a global basis. The results show that industry momentum is profitable around the globe for various ranking and holding periods. The profits are larger in January than in other months. Industry momentum reverses in the long run and the reversal does...

Diversification opportunities in Euro-land appear to have improved significantly since the advent of the euro, thus invalidating the prospects identified in the last years of the convergence-to-EMU period. Low frequency movements in the time series of return dispersions are identified suggestive...