The Predictive Power of Retail Investor Sentiment

  • Matthias Burghardt


The contrarian behavior of individual investors, as documented in the previous chapter, may present a link to stock return predictability as suggested by Kaniel, Saar, and Titman. They find that individual investors are contrarians implicitly providing liquidity to other market participants and that their behavior may predict returns.


Excess Return Limit Order Individual Investor Portfolio Return Investor Sentiment 
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Copyright information

© Gabler Verlag | Springer Fachmedien Wiesbaden GmbH 2011

Authors and Affiliations

  • Matthias Burghardt

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