Hedge fund managers still human, research finds

Funds fall victim to IPO hype and behavioural biases affecting traders

Hedge fund managers are still susceptible to behavioural biases

While some fund managers claim not to be held hostage to human behavioural biases when trading investors' money, a team of Pennsylvanian academics thinks this is only partly true.

Hedge Funds and Market Anomalies, a research paper by Daniel Lawson, Robert Boldin and Tore Økland of the Indiana University of Pennsylvania, finds that while hedge funds exploit commonly known irrational market activity such as asset growth biases, only a few successfully take advantage of earnings momentum and most

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