How Smart are the Smart Guys? A Unique View from Hedge Fund Stock Holdings

By John M. Griffin, Jin Xu. 2009

327 citations recorded by the source corpus.

Subfields: Accounting, Finance, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/da81c049028eb3ef2d0431c4f6802344e8c5ca2a

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In Management Science and Operations Research

Citations in the corpus

Do Hedge Funds Trade on Private Information? Evidence from Syndicated Lending and Short-Selling (2011, methodology): “Using the information on the ADV forms (from PEI) and following Griffin and Xu (2007) and Huang (2008), we are able”
Tail Risk in Hedge Funds: A Unique View from Portfolio Holdings (2017, background): “They are not required to report any short positions (see Griffin and Xu, 2009; Aragon and Martin, 2012; Agarwal, Fos, and Jiang, 2013; and Agarwal, Jiang, Yang, and Tang, 2013).”
The Costs of Shareholder Activism: Evidence from a Sequential Decision Model (2013, unknown): “As Griffi n and Xu (2009) argue, monthly returns based on 13F holdings are better suited to evaluating hedge fund performance because they do not suffer from the return manipulation and survivorship bias of self-reported hedge fund returns.37 Even though 13F monthly returns ignore short-term trading”
Institutional investor cliques and governance (2019, unknown): “Following Griffin and Xu (2009), we carry holdings forward one quarter if an institution is missing a single reporting period.”
Common ownership and competition in product markets (2021, unknown): “To account for reporting gaps, holdings are carried forward one quarter in cases in which the institution skips a reporting period (Griffin and Xu, 2009).”
Hedge Fund Stock Trading in the Financial Crisis of 2007-2009 (2012, unknown): “From the comparison with the aggregate holdings in Panel B, which are weighted by market capitalization, it appears that hedge funds’ equity holdings are tilted towards smaller stocks, consistent with the evidence in Griffin and Xu (2009).”
Do Hedge Funds Manipulate Stock Prices (2012, unknown): “Then, following Brunnermeier and Nagel (2004) and Griffin and Xu (2009), we keep only the institutions with more than half of their clients classified as “High Net Worth Individuals” or “Other Pooled Investment Vehicles (e.g., Hedge Funds)” in Item 5.”