We study the strategy of shorting a pair of leveraged ETF and inverse leveraged ETF of the same index. The profitability of this strategy does not depend on the direction of the underlying benchmark. We derive an approximation formula to show that the expected return is high when the weighted...

In this paper, we study the performance of hated stocks, those stocks with the average analyst recommendation level of hold or worse. We show that from the beginning of 2009 to the end of 2014, this group of hated stocks in S&P 500 performs better than the other stocks in S&P 500. When we extend...