Fight or Flight? Portfolio Rebalancing by Individual Investors

By Laurent E. Calvet, John Y. Campbell, Paolo Sodini. 2009

586 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/db9b0dce484262fe3b22c7b8e329583712da4170

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Citations in the corpus

Expectations-Based Reference-Dependent Life-Cycle Consumption (2017, unknown): “Thus, I obtain a novel prediction of stickiness in portfolio choice, which has been observed in household portfolio data by Calvet et al. (2009) or Brunnermeier and Nagel (2008).”
Nature or Nurture: What Determines Investor Behavior? (2010, unknown): “19A comprehensive analysis of individual portfolio choice data from Sweden has recently been performed by Calvet et al. (2007, 2009).”
Saving Behavior Across the Wealth Distribution: The Importance of Capital Gains (2019, unknown): “Carroll (1998), De Nardi (2004), Straub (2018), Saez and Stantcheva (2018) and other papers cited in the review by Benhabib and Bisin (2018).”
Chapter 21 - Household Finance: An Emerging Field∗ (2013, unknown): “1, Calvet, Campbell, and Sodini (2007a) argue that investors with high idiosyncratic risk in their directly held stock portfolio tend to reduce their under-diversification losses by investing most of their financial wealth in mutual funds and/or by limiting their risk exposure altogether.”
Choice proliferation, simplicity seeking, and asset allocation ☆ (2010, unknown): “25 Outside of 401(k) plans, however, Calvet et al. (2009) find strong evidence for active rebalancing.”
Information, overconfidence and trading: Do the sources of information matter? (2012, background): “Calvet, Campbell, and Sodini (2009) provide evidence that active rebalancing is more pronounced for sophisticated households.”
Who Are the Value and Growth Investors (2017, unknown): “The Swedish Wealth Registry is an administrative data set compiled by Statistics Sweden, which has been used in earlier work (Calvet, Campbell, and Sodini 2007, 2009a, 2009b, Calvet and Sodini 2014).”
Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study (2012, background): “Research observes inertia that results in individual investors making insufficient portfolio adjustments in response to general market movements (Agnew, Balduzzi, and Sundén 2003; Calvet, Campbell, and Sodini 2009a; Madrian and Shea 2001).”
Looking for Someone to Blame: Delegation, Cognitive Dissonance, and the Disposition Effect (2014, unknown): “Importantly, the finding holds for flows from existing investors as well as new investors (Ivkovi´c and Weisbenner (2009) and Calvet et al. (2009)).”