New search 
36 items match Black swans, market timing and the Dow. Click here for tips on how to optimize your results.
Date: 06/2009
Author(s): Estrada, Javier
Document type: Article in Journal (refereed)
Do investors in the US stock market obtain their long-term returns smoothly and steadily over time or is their long-term performance largely determined by the return of just a few outliers? How likely are investors to successfully predict the best days to be in and out of the market? The evidence from the Dow Jones Industrial Average ...
More information
Date: 10/2008
Author(s): Estrada, Javier
Document type: Article in Journal (refereed)
Do investors obtain their long-term returns smoothly and steadily over time, or is their long-term performance largely determined by the return of just a few outliers? How likely are investors to successfully predict the best days to be in and out of the market? The evidence from 15 international equity markets and more than 160,000 daily ...
Read INSIGHT article More information
Date: 08/2009
Author(s): Estrada, Javier
Document type: Article in Journal (refereed)
Do investors in emerging markets obtain their long-term returns smoothly and steadily over time, or is their long-term performance largely determined by the return of just a few outliers? Are investors likely to successfully predict the best days to be in and out of these markets? The evidence from 16 emerging equity markets and ...
More information
Date: 12/2009
Author(s): Estrada, Javier
Document type: Non-refereed article
The article discusses the author's research on the existence of Black Swans in financial markets. It shows that a negligible proportion of days determines a massive creation or destruction of wealth. The author stresses that Black Swans suggest to investors both what not to do and what to do in financial markets.
More information
Date: 05/10/2009
Author(s):
Interviewee(s): Estrada, Javier
Document type: Interview (Video)
As investors everywhere lose money to the financial crisis, many are wondering whether large catastrophic market swings, known as “black swans,” could ever be predicted with any degree of accuracy. IESE Prof. Javier Estrada considers the impact of outliers in emerging markets and finds that they can have a massive impact on the long-term ...
More information
Date: 10/2012
Author(s): Estrada, Javier; Vargas, María
Document type: Article in Journal (refereed)
Beta has been a controversial measure of risk ever since it was proposed almost half a century ago, and we do not pretend to settle with this article what decades of research has not. We do, however, take advantage of the recent trend of investing in countries and industries through index funds and exchange-traded funds (ETFs), as well as a renewed ...
More information
Date: 02/2009
Author(s): Estrada, Javier
Document type: Article in Journal (refereed)
Most investors agree that investing in emerging markets is risky, but not all of them agree on the best strategy to deal with this risk. Some investors view the high volatility of these markets as an opportunity to make large short-term profits and actively trade; others view it as a risk than can only be borne with a long-term perspective ...
Read INSIGHT article More information
Date: 17/03/2006
Author(s): Daniels A.; Miller, Paddy
Document type: Case
The story of how Conrad Black, son of a Canadian businessman, built a media empire starting at the age of 22 when he bought his first newspaper in rural Quebec is the stuff of legends. By 1996, Hollinger Black company owned more than 400 titles around the globe, representing the third largest publisher of newspapers in circulation in ...
More information
Date: 01/07/1997
Author(s): Fernández López, Pablo
Document type: Technical Note
En esta nota se alude a la utilización de la fórmula de Black y Scholes
More information
Date: 07/1996
Author(s): Ariño Martín, Miguel Angel; Fernández López, Pablo
Document type: Non-refereed article
En este artículo se calcula el valor de la opción de compra hoy, esto es, el valor actual neto del valor de la opción en la fecha de ejercicio: MAX (St - K, 0). Se parte de la ecuación estocástica (aleatoria) que caracteriza la evolución del precio de la acción y se llega a la fórmula de Black y Scholes a través del VAN por aplicación directa ...
More information