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Dumb money: Mutual fund flows and the cross-section of stock returns

Frazzini, Andrea; Lamont, Owen A. - In: Journal of Financial Economics 88 (2008) 2, pp. 299-322

We use mutual fund flows as a measure of individual investor sentiment for different stocks, and find that high sentiment predicts low future returns. Fund flows are dumb money-by reallocating across different mutual funds, retail investors reduce their wealth in the long run. This dumb money...

Persistent link: https://www.econbiz.de/10005376594

Does diversification destroy value? Evidence from the industry shocks

Lamont, Owen A.; Polk, Christopher - In: Journal of Financial Economics 63 (2002) 1, pp. 51-77

Persistent link: https://www.econbiz.de/10005376623

Credit conditions and the cyclical behavior of inventories

Kashyap, Anil K.; Lamont, Owen A.; Stein, Jeremy C. - Federal Reserve Bank of Chicago - 1993

Persistent link: https://www.econbiz.de/10005410950

Short-sale constraints and stock returns

Jones, Charles M.; Lamont, Owen A. - In: Journal of financial economics 66 (2002) 2, pp. 207-240

Persistent link: https://www.econbiz.de/10006508362

Does diversification destroy value? Evidence from the industry shocks

Lamont, Owen A.; Polk, Christopher - In: Journal of financial economics 63 (2002) 1, pp. 51-78

Persistent link: https://www.econbiz.de/10006510511

Macroeconomic forecasts and microeconomic forecasters

Lamont, Owen A. - In: Journal of economic behavior & organization : JEBO 48 (2002) 3, pp. 265-280

Persistent link: https://www.econbiz.de/10006828322

Asset Bubbles and the Macroeconomy - Aggregate Short Interest and Market Valuations

Lamont, Owen A.; Stein, Jeremy C. - In: The American economic review 94 (2004) 2, pp. 29-32

Persistent link: https://www.econbiz.de/10006816325

ARTICLES - The Diversification Discount: Cash Flows Versus Returns

Lamont, Owen A.; Polk, Christopher - In: The journal of finance : the journal of the American … 56 (2001) 5, pp. 1693-1722

Persistent link: https://www.econbiz.de/10006562891

PERSPECTIVES ON BEHAVIORAL FINANCE: DOES "IRRATIONALITY" DISAPPEAR WITH WEALTH? EVIDENCE FROM EXPECTATIONS AND ACTIONS : COMMENT

Lamont, Owen A. - In: NBER macroeconomics annual 18 (2003), pp. 200-207

Persistent link: https://www.econbiz.de/10006081694

Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns

Frazzini, Andrea; Lamont, Owen A. - National Bureau of Economic Research (NBER) - 2005

We use mutual fund flows as a measure for individual investor sentiment for different stocks, and find that high sentiment predicts low future returns at long horizons. Fund flows are dumb money %uF818 by reallocating across different mutual funds, retail investors reduce their wealth in the...

Persistent link: https://www.econbiz.de/10005089018