Performance Persistence of Individual Investors

@article{Che2009PerformancePO,
  title={Performance Persistence of Individual Investors},
  author={Limei Che and Oyvind Norli and R. Priestley},
  journal={Capital Markets: Asset Pricing & Valuation},
  year={2009}
}
Using unique data on month-end stock market portfolios of all individual investors over an eleven year period, we find that a substantial number of investors exhibit economically and statistically significant performance persistence. Furthermore, a portfolio that is long in stocks previously favored by top performing investors earns a substantial risk adjusted return. These finding are robust to how we measure past performance, how often investors trade, and to the size of investors' portfolios… Expand
11 Citations

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