Can Individual Investor Sentiment Predict Market Returns?

The meaning of investor sentiment research reads as follow: 1st, it can give hint tounderstanding investors' behavior;2nd, it is useful to learn the interaction of market returns,variability and trade volume;3rd, to which extant it is an opportunity to earn extra returns can bedeclosed;Fourth, it is helpful for the government to take.

The paper introduces the current study situations on overseas stock repurchase and market returns,the impacts of insider trading caused by the stock repurchase on market returns are discussed.

However, although it was not a completely linear relationship, the market return of issuing company underwritten by the top-ten ranking investment bankers was more sta- ble than the others.

A portfolio yield and portfolio risk measuring model based on the credit risk migration

The problem of choosing a substitute for the market portfolio of risk assets in CAPM is discussed.

Three argues are presented in this paper:1)The absence of one or more assets of proxy market for market portfolio will result wrong statistical conclusions;2)Even in case of all asset proxy,the falsity in identifying the market portfolio will lead to improper rejecting or accepting CAPM;3)In the current economy,the restriction on short sale exacerbates the circumstance of testing CA.