Portfolio Concentration and the Performance of Individual Investors

By Zoran Ivković, Clemens Sialm, Scott J. Weisbenner. Journal of Financial and Quantitative Analysis, 2008

347 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d7b472e9deebe9ccec131894f17eb66ccb5d586e

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Alok Kumar
2. H. Gaudecker
3. George M. Korniotis
4. Juhani T. Linnainmaa
5. Noah Stoffman
6. Amit Seru
7. Tyler Shumway
8. Mark Grinblatt

In Economics and Econometrics

1. Alok Kumar
2. George M. Korniotis
3. Juhani T. Linnainmaa
4. Mark Grinblatt
5. Matti Keloharju
6. H. Gaudecker
7. Noah Stoffman
8. Christina Guenther

In Finance

1. Alok Kumar
2. George M. Korniotis
3. Juhani T. Linnainmaa
4. H. Gaudecker
5. Noah Stoffman
6. Mark Grinblatt
7. Matti Keloharju
8. Amit Seru

Citations in the corpus

• Is the crowd sensitive to distance?—how investment decisions differ by investor type (2017, positive): “For example, Coval and Moskowitz (2001) and Ivković et al. (2008) find higher abnormal returns on local stocks in locally biased portfolios versus fully diversified ones.”
• How Does Household Portfolio Diversification Vary with Financial Literacy and Financial Advice (2011, positive): “A very popular alternative for investigating individual investment behaviour is to obtain data from discount brokers (Barber and Odean, 2000, 2001; Goetzmann and Kumar, 2008; Hackethal et al., 2011; Ivković et al., 2005, 2008; Korniotis and Kumar, forthcoming; Odean, 1998).”
• Do Individual Investors Have Asymmetric Information Based on Work Experience (2011, neutral): “First, our results contribute to an ongoing debate on whether individual investors are able to acquire asymmetric information about future stock returns, and profit from it (Coval et al. (2005), Barber et al. (2009), Ivkovic et al. (2008) and Ivkovic & Weisbenner (2005)).”
• Do Portfolio Distortions Reflect Superior Information or Psychological Biases? (2013, positive): “To further exclude potential insiders, we adopt an approach similar to that of Ivković et al. (2008) and exclude portfolios with only 1 stock.”
• The Cross-Section of Speculator Skill: Evidence from Day Trading (2014, neutral): “1 See Coval, Hirshleifer, and Shumway (2008), Grinblatt, Keloharju, and Linnainmaa (2012), Korniotis and Kumar (2011, 2012), Kumar (2009), Ivkovic and Weisbenner (2005), and Ivkovic, Sialm, and Weisbenner (2008).”
• Does It Pay to Pay Attention (2018, neutral): “…Keloharju, and Linnainmaa (2012) and Korniotis and Kumar (2013)), education (Von Gaudecker (2015)), wealth (Calvet, Campbell, and Sodini (2007)), experience (Korniotis and Kumar (2011) and Nicolosi, Peng, and Zhu (2009)), and portfolio concentration (Ivkovic, Sialm, and Weisbenner (2008)).”
• IQ, Trading Behavior, and Performance (2012, positive): “Support for this hypothesis is found in the Chen, Jegadeesh, and Wermers (2000) observation that the trades of fund managers, but not their holdings, predict the future returns of stocks.”