Suchergebnisse

Social media platforms hold vast amounts of data about our lives. Content from the past is increasingly being presented in the form of 'memories'. Critically exploring this new form of memory making, this unique book asks how social media are beginning to change the way we remember.

AbstractIn a true out‐of‐sample test based on fresh data we find no evidence that several well‐known technical trading strategies predict stock markets over the period of 1987 to 2011. Our test safeguards against sample selection bias, data mining, hindsight bias, and other usual biases that may affect results in our field. We use the exact same technical trading rules thatBrock, Lakonishok, and LeBaron (1992)showed to work best in their historical sample. Further analysis shows that this poor out‐of‐sample performance most likely is not due to the market becoming more efficient – instantaneously or gradually over time – but probably a result of bias.

AbstractStock market returns in 22 markets around the world show no evidence of a daylight saving time effect. Returns on the days following a switch from or to daylight saving time do not behave any differently from stock market returns on any other day of the week or month. These results reject earlier conclusions in the literature—based on less data—that investors' mood changes induced by changes in sleep patterns significantly affect stock returns.