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dc.contributor.authorMenkhoff, Lukasen
dc.contributor.authorSchmidt, Ulrichen
dc.date.accessioned2009-01-29T14:59:32Z-
dc.date.available2009-01-29T14:59:32Z-
dc.date.issued2005-
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
dc.language.isoengen
dc.publisher|aUniversität Hannover, Wirtschaftswissenschaftliche Fakultät |cHannoveren
dc.relation.ispartofseries|aDiskussionsbeitrag |x314en
dc.subject.jelG14en
dc.subject.jelG23en
dc.subject.ddc330en
dc.subject.keywordmarket efficiencyen
dc.subject.keywordbuy-&-hold strategyen
dc.subject.keywordmomentum tradingen
dc.subject.keywordcontrarian strategyen
dc.subject.keywordbehavioural financeen
dc.titleThe Use of Trading Strategies by Fund Managers: Some First Survey Evidence-
dc.typeWorking Paperen
dc.identifier.ppn485649497en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:han:dpaper:dp-314en

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