We examine returns and ending wealth in portfolios selected from 1,000 large US stocks
over a 20‐year holding period. Shortfall risk, the possibility of ending wealth being below a …

We find evidence of a pronounced threshold-type asymmetry in the relation between stock
returns and real economic activity. Negative stock returns are followed by sharp decreases in …

The Dow Dividend Strategy recommends the highest-yielding stocks from the 30 Dow
Industrials. These stocks have come to be known as the “Dogs of the Dow” since they often …

This study investigates the existence of psychological barriers in the Dow Jones Industrial
Average, the S&P 500, and six foreign stock indices. It is believed by many in the investment …

This paper documents a long‐lived asymmetrical relationship between interest rate changes
and subsequent stock returns. Drops in interest rates are followed by twelve months of …

This article investigates whether investing in alternative investment media provides statistically
significant increases in portfolio performance. Employing methodology introduced by …

Finance textbooks typically state that 8 to 20 stocks can provide adequate diversification for
a portfolio. However, these recommendations usually assume a short time horizon such as …

We present and estimate models of an asymmetric relationship between CRSP stock index
returns and the US unemployment rate. Based on the Akaike Information Criterion, …

The Securities and Exchange Commission (SEC) mandates disclosure of exit or disposal
activity events in 8‐K filings. We use Latent Dirichlet Allocation (LDA), a topic modeling method …

The Securities and Exchange Commission requires the disclosure of changes to or waivers
of corporate codes of ethics. Because the nature of amendments or waivers can vary, we …