This article investigates whether there exists a consensus among foreign exchange rate forecasters. The data set under consideration is the semi-annual survey of the Wall Street Journal . In most of all cases we find evidence in favor of a consensus. However, in a few cases, no-consensus is...

Financial investors tend to sell winners too early and ride losers too long. Therefore, demand for financial advice should be high in a bull market and low in a bear market. This hypothesis is tested and a positive relation is found between the sales of investor magazines and the development of...