Momentum And Funding Conditions
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Momentum And Funding Conditions
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Author : Luis García-Feijóo
language : en
Publisher:
Release Date : 2016
Momentum And Funding Conditions written by Luis García-Feijóo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
We find strong evidence linking the momentum pattern in equity returns with a prominent measure of macroeconomic conditions, specifically the funding environment. We show that the size and consistency of the momentum premium varies systematically across funding states. Furthermore, we find evidence that the relationship between momentum returns and firm characteristics (documented in previous research) is conditional on the funding environment. After controlling for the funding state, we find that the importance of market states and return dispersion disappears. Additionally, funding conditions appear to contain incremental information about the momentum premium even after adjusting for the influence of market states and return dispersion. Overall our results are consistent with the conjecture that transitions in the funding environment encourage investors to revise their portfolio allocations; this reallocation produces inter-temporal variation in the momentum return pattern.
Understanding Momentum In Investment Technical Analysis
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Author : Michael Thomsett
language : en
Publisher:
Release Date : 2019-06-24
Understanding Momentum In Investment Technical Analysis written by Michael Thomsett and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-24 with categories.
This book explains and demonstrates the concept of momentum in chart analysis, which is of great interest to technical analysts. It includes complete explanations of overbought and oversold, where momentum fits in the broader science of technical analysis, and the importance of moving average crossover. Five major momentum oscillators are explained in depth: relative strength index, MACD, rate of change, stochastics, and Bollinger Bands. Finally, the book provides trading guidance based on momentum, involving coordination of oscillators with other indicators, reversal, and continuation signals. Momentum powerfully identifies the strength and speed of price movement. Through the use of index calculations, momentum is effective when used as a confirming indicator for other signals found in price, volume, or moving averages. Often overlooked by traders focused solely on price reversals or continuation signals, momentum provides a context to price behavior and to the price trend, and can vastly improves the timing of both entry and exit of trades.
Mutual Fund Managers Choice Of Momentum Strategy Pre During Post Financial Crisis
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Author : Luyue Jin
language : en
Publisher:
Release Date : 2016
Mutual Fund Managers Choice Of Momentum Strategy Pre During Post Financial Crisis written by Luyue Jin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper provide evidence of momentum strategy selection and investment strategy switch under different market state for 207 mutual funds. The test are designed to examine the impact of different strategy and evaluate the performance under specific conditions. The study in this paper confirm the state dependence of investment strategy. By the data seized in the test, fund managers prefer momentum strategy before the financial crisis and give it up during the recession, then turns to contrarian in the following period. The optimal path of strategy selection combination and for the whole sample period also given in the results. The paper also evaluate the decision made by fund managers, compared with different peer groups and time horizon.
The Value And Momentum Trader
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Author : Grant Henning
language : en
Publisher: John Wiley & Sons
Release Date : 2009-10-29
The Value And Momentum Trader written by Grant Henning and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-29 with Business & Economics categories.
A winning approach to stock trading based on proprietary statistical research in Excel In The Value and Momentum Trader, Grant Henning presents a comprehensive approach to stock trading, which centers around Excel-based research methods he has developed. In this book, Henning presents the trading tools he has used to become a successful trader, and discusses some of the greatest challenges facing active market participants. This reliable resource presents both winning trading systems and all the skills necessary to perform as a trader as market conditions change. It also demonstrates how you can turn the successes and failures of any trading system into an interactive feedback loop to discover one's true trading skills. Provides a solid understanding of the author's statistical trading system Explores how to execute optimal trades under different market conditions Outlines a very affordable Excel-based stock analysis method that is easy to implement Dr. Henning has proven to be a trusted author with other academic publications in the areas of measurement and statistics. The Value and Momentum Trader is an essential guide to trading today's dynamic markets.
Money Momentum
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Author : Jonathan E. Bonnette
language : en
Publisher:
Release Date : 2010-07-01
Money Momentum written by Jonathan E. Bonnette and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.
THE NEW AMERICAN REALITY Today's headlines are jampacked with news of the latest foreclosures, employment layoffs, and stock market roller coaster rides. You may be asking yourself, "How did this happen?" or "Where does this leave my family and me?" The answers are in your hands. Money Momentum delves deep into the nitty-gritty information surrounding the Great Recession and we don't pull any punches. We go beyond the facts and figures to explain what debt does to your health, your emotions and the hazards debt places on raising a family. You'll also learn how the effects of poverty can affect stress levels and exacerbate medical conditions. Unlike the media and other forms of financial advice, we won't leave you hanging. First, we'll describe debt-reduction solutions that have been used in the past and why they don't work. Then we'll introduce you to an all-inclusive solution that is the result of years of research and studying many different financial strategies. This solution uses a combination of several key financial strategies and is necessary to achieve the most effective path to financial freedom in today's constantly changing world.
Martin Pring On Market Momentum
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Author : Martin J. Pring
language : en
Publisher: Irwin Professional Publishing
Release Date : 1993-01-01
Martin Pring On Market Momentum written by Martin J. Pring and has been published by Irwin Professional Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-01-01 with Business & Economics categories.
Become an "instant expert" in the use of popular technical studies and indicators which are on technical analysis software, such as McClellan Oscillator, Stochastics, MACD, RSI, Parabolics, CCI, and many others. This is the first comprehensive book on momentum destined to become the definitive guide to effective and proper use of Momentum destined to become the definitive guide to effective and proper use of Momentum studies and indicators. Examines the principles underlying Market Momentum and discusses the advantages and disadvantages of oscillators, how they are computed, and offers much insight into their proper and effective usage. "This Book Will Teach You, In Easily Understood, And Easily Utilized Terms": Characteristics of overbought and oversold markets -- Trend analysis using momentum indicators -- How to become an "instant expert" in the use and interpretation of Stochastics, RSI, MACD, and many other indicators -- Pros and Cons of all major oscillators. How to use technical studies and indicators effectively in your trading.
Dual Momentum Investing An Innovative Strategy For Higher Returns With Lower Risk
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Author : Gary Antonacci
language : en
Publisher: McGraw Hill Professional
Release Date : 2014-11-21
Dual Momentum Investing An Innovative Strategy For Higher Returns With Lower Risk written by Gary Antonacci and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-21 with Business & Economics categories.
The investing strategy that famously generates higher returns with substantially reduced risk--presented by the investor who invented it "A treasure of well researched momentum-driven investing processes." Gregory L. Morris, Chief Technical Analyst and Chairman, Investment Committee of Stadion Money Management, LLC, and author of Investing with the Trend Dual Momentum Investing details the author’s own momentum investing method that combines U.S. stock, world stock, and aggregate bond indices--a formula proven to dramatically increase profits while lowering risk. Antonacci reveals how momentum investors could have achieved long-run returns nearly twice as high as the stock market over the past 40 years, while avoiding or minimizing bear market losses--and he provides the information and insight investors need to achieve such success going forward. His methodology is designed to pick up on major changes in relative strength and market trend. Gary Antonacci has over 30 years experience as an investment professional focusing on under exploited investment opportunities. In 1990, he founded Portfolio Management Consultants, which advises private and institutional investors on asset allocation, portfolio optimization, and advanced momentum strategies. He writes and runs the popular blog and website optimalmomentum.com. Antonacci earned his MBA at Harvard.
Global Financial Stability Report April 2019
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Author : International Monetary Fund. Monetary and Financial Systems Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-04-10
Global Financial Stability Report April 2019 written by International Monetary Fund. Monetary and Financial Systems Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-10 with Business & Economics categories.
The April 2019 Global Financial Stability Report (GFSR) finds that despite significant variability over the past two quarters, financial conditions remain accommodative. As a result, financial vulnerabilities have continued to build in the sovereign, corporate, and nonbank financial sectors in several systemically important countries, leading to elevated medium-term risks. The report attempts to provide a comprehensive assessment of these vulnerabilities while focusing specifically on corporate sector debt in advanced economies, the sovereign–financial sector nexus in the euro area, China’s financial imbalances, volatile portfolio flows to emerging markets, and downside risks to the housing market. These vulnerabilities require action by policymakers, including through the clear communication of any changes in their monetary policy outlook, the deployment and expansion of macroprudential tools, the stepping up of measures to repair public and private sector balance sheets, and the strengthening of emerging market resilience to foreign portfolio outflows. This GFSR also takes an in depth look at house prices at risk, a measure of downside risks to future house price growth—using theory, insights from past analyses, and new statistical techniques applied to 32 advanced and emerging market economies and major cities. The chapter finds that lower house price momentum, overvaluation, excessive credit growth, and tighter financial conditions predict heightened downside risks to house prices up to three years ahead. The measure of house prices at risk helps forecast downside risks to GDP growth and adds to early-warning models for financial crises. Policymakers can use estimates of house prices at risk to complement other surveillance indicators of housing market vulnerabilities and guide macroprudential policy actions aimed at building buffers and reducing vulnerabilities. Downside risks to house prices could also be relevant for monetary policymakers when forming their views on the downside risks to the economic and inflation outlook. Authorities considering measures to manage capital flows might also find such information useful when a surge in capital inflows increases downside risks to house prices and when other policy options are limited.
Size Value And Momentum In Developed Country Equity Returns
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Author : Nusret Cakici
language : en
Publisher:
Release Date : 2013
Size Value And Momentum In Developed Country Equity Returns written by Nusret Cakici and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The paper investigates value and momentum factors in 23 developed international stock markets. We find that typically value and momentum premia are smaller and more negatively correlated for large market capitalization stocks relative to small. Momentum factors are more highly correlated internationally relative to value. We provide international evidence on three sets of risk exposures of value and momentum returns: macroeconomic risk, funding liquidity risk, and stock market liquidity risk. We find that value returns are typically lower prior to a recession while momentum returns often exhibit little sensitivity. Value returns are typically lower in times of poor funding liquidity, whereas, with notable exceptions, momentum returns are typically unaffected. Lastly, for almost all countries, value returns are high in poor stock market liquidity conditions. The same result appears to be true for momentum in Asia Pacific, North America, and largely in Europe.
Momentum Trading
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Author : Priyank Gala
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2015-09-29
Momentum Trading written by Priyank Gala and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-29 with categories.
It is true that momentum trading tends to generate some ups and downs, it may result in a financial market crash, it depends on nature of stock market itself.This book of momentum trading will guide you through following topics: Index: Chapter 1: All about Momentum Trading Chapter 2: How to become a Momentum Trader? Chapter 3: Risks involved with momentum trading Closing on a trade before time Delayed exit from the trade Low levels of focus and concentration Failure to quickly cut losses Going against all momentum trading ethics and holding on to a stock for more than one day Chapter 4: Proper selection of stocks for momentum trading Chapter 5: Optimum time for trading Chapter 6: Why volume is important? Chapter 7: Formulating proper covered calls Chapter 8: Strategy used for momentum trading Chapter 9: A trade going wrong - identifying a situation Chapter 10: Reasons why people choose momentum trading