Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/22426
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dc.contributor.authorMenkhoff, Lukasen_US
dc.contributor.authorSchmidt, Ulrichen_US
dc.date.accessioned2009-01-29T14:59:32Z-
dc.date.available2009-01-29T14:59:32Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/22426-
dc.description.abstractOur questionnaire survey finds that most fund managers rely on the strategies of buy-&-hold, momentum and contrarian trading. These strategies are typically applied mutually. Their use is rooted in the attributes and beliefs of the respective fund managers: buy-&-hold traders behave fundamentally oriented, risk averse and less (over)confident than others. Momentum traders appear as the least risk averse professionals going aggressively with the trend. Contrarian traders, however, show signs of overconfidence and peculiar risk aversion, both indicating difficulties in successful strategy implementation. The revealed behavioural patterns are not easily reconciled with efficient markets.en_US
dc.language.isoengen_US
dc.publisher|aUniversität Hannover, Fachbereich Wirtschaftswissenschaften |cHannoveren_US
dc.relation.ispartofseriesDiskussionspapiere des Fachbereichs Wirtschaftswissenschaften, Universität Hannover |x314en_US
dc.subject.jelG14en_US
dc.subject.jelG23en_US
dc.subject.ddc330en_US
dc.subject.keywordmarket efficiencyen_US
dc.subject.keywordbuy-&-hold strategyen_US
dc.subject.keywordmomentum tradingen_US
dc.subject.keywordcontrarian strategyen_US
dc.subject.keywordbehavioural financeen_US
dc.titleThe Use of Trading Strategies by Fund Managers: Some First Survey Evidenceen_US
dc.typeWorking Paperen_US
dc.identifier.ppn485649497en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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