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If you are talking about <b>real</b> money, then I don't see how it can be boring. You can always think of what can be done with it for excitement. Hire someone to do the clicking and research other stuff or go do some spending...

This thread is silly. I'm in the last semester of my PhD and am running a hedge fund based on the reseach I'm working on. the latter is a direct product of the former. If PhDs decide not to trade it's not b/c they don't have guts. It's b/c they are smart enough to realize how hard it is...

"Can Individual Investors Beat the Market?" BY: JOSHUA D. COVAL Harvard University Finance DAVID A. HIRSHLEIFER Ohio State University Fisher College of Business TYLER G. SHUMWAY...

Lundy, if I were you, I'd take those pics away (you probably can't by now, ask the moderator to). Seriously man, there are a lot of nutheads out there and you gave them way too much info. I once posted a screenshot here on ET, but I had to make sure it had absolutely no info like acct number...

Thanks Gordo, yeah, I've emailed them before and it never took them more than 5 or 10 minutes to get back to me. I just wasn't near a bb terminal this time and thought I'd get some guidance before I get there. Thanks.

Hi guys, I modestly admit I'm not very proficient with bloomberg and this is probably a no-brainer question for some of you.. Can I get returns out of Bloomberg on an index that tracks the aggregated returns of the US REITs for the period from 1986 to 2000? (or from some other souce...

That's what happens when you don't read the whole thread... :D

Good thread. Too bad I got to post a little too late. Most threads attract losers like TM eventually... But anyway, here's my suggestion for you Harry123: I come from a VERY modest background (third world contry) and when I read your initial post I thought to myself "funny, I was risking...

Yes, I'm aware of that problem :D It's actually covered by another theory called "agency theory". :)

Why is it not the same from the perspective of an investor, ignoring market frictions??? I either get the dividend or have a "homemade" dividend by selling a portion of my stocks after the price gain.

... you make it sound as if it wasn't factored in for some reason. [B] Dividends only count b/c there are market frictions and b/c there are psychological nuances to their existence.

Yes, good point. The prior arguments understandably don't apply in such exceptional cases.

Without giving this much thought, as I'm kind of in a hurry, I guess you are right. But if they indeed, temporarily or not, ran out of positive NPV opportunities, I'd rather move all my money to those who have trouble finding enough cash to fully capitalize on the opportunities they have and...

Yep, I agree. Once I got about 80% through, I was stuck finding a logical answer to the end (albeit it was staring right at me), I had two alternatives to choose from and found one that worked. I was very unhappy with that way out b/c there had to be a logical step-by-step solution and a few...

You mixed up totally different arguments. Indeed, in the frictionless MM world, dividends are irrelevant and represent no signal etc (the idea of "homemade" dividends you are referring to). MM theory aside, ignoring the agency theory/signalling arguments that are too voluminous to get into and...

The article is in the WSJ I think. But in a nutshell, a company paying out dividends acknowledges it can't invest the excess funds productively in itself, thus, why should anyone else. While there are exceptions, in general, dividends are a sign of weakness. Happy New Year to all.

Agree.

...comments of the "I hate dividends" guy...

Been doing the same thing (fading momentum), but I have to agree with the trader here, this week absolutely sucked. Along with the last one. The two worst weeks I've seen so far... The downward momentum seems very freaking stubborn in December given that people seem to be realizing losses...

No (twice).