An Analysis of the Recommendations of the " Superstar " Money Managers at Barron ' s Annual Roundtable

@inproceedings{Eckbo1999AnAO,
  title={An Analysis of the Recommendations of the " Superstar " Money Managers at Barron ' s Annual Roundtable},
  author={B. Espen Eckbo and David Canfield Smith and Mark Grinblatt and Sheridan Titman},
  year={1999}
}
This paper analyzes the equity-portfolio recommendations made by investment newsletters. Overall, there is no significant evidence of superior stock-picking ability for this sample of 153 newsletters. Moreover, there is no evidence of abnormal short-run performance persistence ("hot hands"). The comprehensive and bias-free transactions database also allows… CONTINUE READING