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Special Report on

Day Trading International Mutual Funds

day trading international mutual funds special research report Photo by
As is becoming increasingly widely known, mutual funds often calculate their net asset values (NAVs) using stale prices, which causes their daily returns to be predictable. By trading on this predictability, investors can earn 35--70% per year in international funds and 10--25% in asset classes such as small-cap equity and high-yield and convertible bonds. These abnormal returns come at the expense of long-term shareholders, dilution of whom has grown in international funds from 56 basis points in 1998--99 to 114 basis points in 2001. Despite these losses and pressure from the Securities and Exchange Commission (SEC), the vast ...
(buys and sells) the fund's investments in accordance with the fund's investment objective. In the U.S., a fund registered with the Securities and Exchange Commission (SEC) under both SEC and Internal Revenue Service (IRS) rules must distribute nearly all of its net income and net realized gains from the sale of securities (if any) to its investors at least annually. Most funds are overseen by a board of directors or trustees (if the U.S. fund is organized as a trust as they commonly are) which is charged with ensuring the fund is managed appropriately by its investment adviser and other service organizations and ...
Vanguard Offers More ETF Equivalents To Their Index Mutual Funds ...
of Vanguard mutual funds using their equivalent ETFs instead. While they won’t work well for everyone, I am glad that Vanguard is offering this option to the public. Here are some index mutual funds and their ETF counterparts: The ETFs certainly have an advantage in expense ratio if you don’t have the $50,000 needed to buy the Admiral shares of each fund. On average, the savings is 10 basis points, or 0.10%. That’s $10 a year on a $10,000 account, or $100 a year on a $100,000 account. In addition, the ETFs allow you to get around the minimum initial investments, as well as avoid the $10 per-fund ... market research, surveys and trends
Stock Market Tutorial #4 Financial Basics | World Pace Web Portal
Some info about mutual funds, including window dressing, no load and loaded funds and Berkshire Hathaway’s price per share of Class A stock Duration : 0:8:23 Technorati Tags: beginner , Dressing , Fund , market , Mutual , stock , tom , tutorial , Willett , Window Tags: beginner , Dressing , Fund , market , Mutual , stock , tom , tutorial , Willett , Window TheAluminumCan Says: July 19th, 2010 at 10:28 pm This is very good … This is very good info you are giving sharing to us^^ icIncome Says: July 19th, 2010 at 10:28 pm interesting. have … interesting. have you used icincome , com? Featureman Says: July 19th, ... market research, surveys and trends


How Widespread is Late Trading in Mutual Funds?
This paper uses daily fund flow data to examine the extent of late trading in the U.S. mutual fund industry. Trading decisions that are required by law to have been made before 4 PM Eastern Time are correlated with market movements from 4 to 9 PM that evening. The cross- sectional variation in this correlation is consistent with late trading being its primary cause and inconsistent with alternative explanations. For example, apparent late trading ceases in September 2003 after the announcement of the investigation into mutual fund trading practices, it is three times greater in fund families that have been cited by regulators ... industry trends, business articles and survey research
Day Traders and Day Trading
Abstract: "Daily pricing of mutual funds provides liquidity to investors but is subject to valuation errors due to the inability to observe synchronous, fair security prices at the end of the trading day. This may hurt fund investors if speculators strategically seek to exploit mispricing or if the net flow of money into funds is correlated with these pricing errors. We show that mutual funds are exposed to speculative traders by using a simple day trading rule that yields large profits in a sample of 391 U.S.-based open-end international mutual funds. We propose a simple "fair pricing" mechanism that alleviates ... industry trends, business articles and survey research
keep your cool in a scary market
(Money Magazine) -- You knew it couldn't go on forever. And deep down, the spectacular run-up in stocks that began when the bear market bottomed in March 2009 was actually making you a little nervous. An 80% surge in just 13 months was starting to feel a lot like bubble territory. So yes, a breather was probably in order. But another full-blown financial crisis? One that would hammer stock markets around the globe? You were hardly expecting that; few people were. Spiraling debt troubles in Greece, Portugal, Italy, Ireland, and Spain kicked off the chaos. Worries about a sharp economic slowdown in China and anemic job growth ... market trends, news research and surveys resources
China Day Ahead: Zijin Mining Expresses Regret for Waste-water Leakage
Zijin Mining Group Co. has expressed “deep regret” for a leak of acid-laced water from its largest copper mine, a nine-day delay in admitting to the breach and losses caused to fish farmers. Shares of China’s largest gold producing company have tumbled 20 percent in Hong Kong since July 12, when Zijin disclosed that 2.4 million gallons of acidic waste had spilled from its mine, polluting the Ting River and poisoning enough fish to feed 72,000 people for a year. Regulators have detained three officials for investigations into Zijin’s disclosure of the event. China overtook the U.S. as the world’s biggest energy user last year, ... market trends, news research and surveys resources


The dilution impact of daily fund flows on open-end mutual funds
Day trading international mutual funds: evidence and policy solutions. Journal of Financial and Quantitative Finance, forthcoming. ... technology research, surveys study and trend statistics
GAO-05-313 Mutual Fund Trading Abuses: Lessons Can Be Learned from ...
Geert Rouwenhorst, “Day Trading International Mutual Funds: Evidence and Policy. Solutions,” Journal of Financial and Quantitative Analysis 36 (3) ... technology research, surveys study and trend statistics
How Widespread is Late Trading in Mutual Funds? Eric Zitzewitz ...
“Day Trading. International Mutual Funds: Evidence and Policy Solutions,” Journal of. Financial and Quantitative Analysis 36, 287-309. ...
Google Answers: Specific request for additional research by ...
This is a specific request for additional research by pafalafa-ga. This researcher is looking into books related to mutual fund market timing. The researcher has come across a good deal of newspaper and magazine articles and other materials -- many of them from the 1990's and earlier -- that discuss this topic as well. I am requesting an answer specifically from pafalafa-ga that would identify magazine and newspaper articles that discussed mutual fund market timing as an investment technique. I am only looking for articles that were published prior to September 2003, and the earlier back in time the better. Thank ...
When you purchase stock or mutual funds how long does it take for ...
For example.. On friday morning UA (under armour) stock was 60.00 by the end of the day it was 64.71. So is there a way to purchase stock in the mornig and when it goes up (or down) during that day can you sell it? So is there a way to buy and sell stock instantly without any sort of delay? Also is that what day trading is? Thanks for reading You can sell a stock anytime you want, including that day. (I have placed sell orders 1 minute after making a purchase.) However, that sell will not settle for 3 business days. Which means you can not keep doing this if you are trading in a cash account. That is day trading. And if ...