Stocks of Admired and Spurned Companies

Do stocks of admired companies yield admirable returns? Are increases in admiration followed by high stock returns, and how reliable is the relation between admiration and returns? These questions are answered by the authors based on their study of Fortune magazine's annual list "America&#...

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Bibliographic Details
Main Authors:	Anginer, Deniz, Statman, Meir
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Portfolio Choice Investment Decisions G110 Asset Pricing Trading volume Bond Interest Rates G120 Firm Performance: Size, Diversification, and Scope L250
Online Access:	http://hdl.handle.net/10986/5870

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recordtype	oai_dc
spelling	okr-10986-58702021-04-23T14:02:23Z Stocks of Admired and Spurned Companies Anginer, Deniz Statman, Meir Portfolio Choice Investment Decisions G110 Asset Pricing Trading volume Bond Interest Rates G120 Firm Performance: Size, Diversification, and Scope L250 Do stocks of admired companies yield admirable returns? Are increases in admiration followed by high stock returns, and how reliable is the relation between admiration and returns? These questions are answered by the authors based on their study of Fortune magazine's annual list "America's Most Admired Companies." They find that from April 1983 through December 2007 stocks of admired companies had lower returns, on average, than stocks of spurned companies and that increases in admiration were followed, on average, by lower returns. The authors also find that the dispersion of returns is high, especially in the portfolio of spurned company stocks, implying that investors who would like to benefit from the return advantage of spurned company stocks must diversify widely among them. 2012-03-30T07:34:57Z 2012-03-30T07:34:57Z 2010 Journal Article Journal of Portfolio Management 00954918 http://hdl.handle.net/10986/5870 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article United States
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	Portfolio Choice Investment Decisions G110 Asset Pricing Trading volume Bond Interest Rates G120 Firm Performance: Size, Diversification, and Scope L250
spellingShingle	Portfolio Choice Investment Decisions G110 Asset Pricing Trading volume Bond Interest Rates G120 Firm Performance: Size, Diversification, and Scope L250 Anginer, Deniz Statman, Meir Stocks of Admired and Spurned Companies
geographic_facet	United States
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	Do stocks of admired companies yield admirable returns? Are increases in admiration followed by high stock returns, and how reliable is the relation between admiration and returns? These questions are answered by the authors based on their study of Fortune magazine's annual list "America's Most Admired Companies." They find that from April 1983 through December 2007 stocks of admired companies had lower returns, on average, than stocks of spurned companies and that increases in admiration were followed, on average, by lower returns. The authors also find that the dispersion of returns is high, especially in the portfolio of spurned company stocks, implying that investors who would like to benefit from the return advantage of spurned company stocks must diversify widely among them.
format	Journal Article
author	Anginer, Deniz Statman, Meir
author_facet	Anginer, Deniz Statman, Meir
author_sort	Anginer, Deniz
title	Stocks of Admired and Spurned Companies
title_short	Stocks of Admired and Spurned Companies
title_full	Stocks of Admired and Spurned Companies
title_fullStr	Stocks of Admired and Spurned Companies
title_full_unstemmed	Stocks of Admired and Spurned Companies
title_sort	stocks of admired and spurned companies
publishDate	2012
url	http://hdl.handle.net/10986/5870
_version_	1764396607441207296

Stocks of Admired and Spurned Companies

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