Should Investors Avoid All Actively Managed Mutual Funds? A Study in Bayesian Performance Evaluation

Common risk factors in the returns on stocks and bonds

1993 • 26,177 citations

On Persistence in Mutual Fund Performance

1997 • 16,085 citations

EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*

1970 • 15,798 citations

Efficient Capital Markets: A Review of Theory and Empirical Work

1970 • 10,493 citations

THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945-1964

1968 • 4,463 citations

Contrarian Investment, Extrapolation, and Risk

1994 • 4,396 citations

Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks

1997 • 2,812 citations

Another Puzzle: The Growth in Actively Managed Mutual Funds

1996 • 2,132 citations

Measuring Fund Strategy and Performance in Changing Economic Conditions

1996 • 1,677 citations

Returns from Investing in Equity Mutual Funds 1971 to 1991

1995 • 1,493 citations

Investing for the Long Run when Returns Are Predictable

2000 • 1,395 citations

Survivorship Bias in Performance Studies

1992 • 1,161 citations

Hot Hands in Mutual Funds: Short‐Run Persistence of Relative Performance, 1974–1988

1993 • 1,152 citations

Are Some Mutual Fund Managers Better Than Others? Cross‐Sectional Patterns in Behavior and Performance

1999 • 1,031 citations

The Persistence of Mutual Fund Performance

1992 • 983 citations

Bayes-Stein Estimation for Portfolio Analysis

1986 • 968 citations

Molecular diversity of arbuscular mycorrhizal fungi colonising arable crops

2001 • 920 citations

Is Money Smart? A Study of Mutual Fund Investors' Fund Selection Ability

1999 • 867 citations

The Persistence of Risk-Adjusted Mutual Fund Performance

1996 • 830 citations

On the Predictability of Stock Returns: An Asset‐Allocation Perspective

1996 • 750 citations

International Portfolio Diversification with Estimation Risk

1985 • 705 citations

Performance Persistence

1995 • 675 citations

Transactions costs and investment style: an inter-exchange analysis of institutional equity trades

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Mutual Fund Performance Evaluation: A Comparison of Benchmarks and Benchmark Comparisons

1987 • 612 citations

Do Winners Repeat?

1994 • 597 citations

Multifactor models do not explain deviations from the CAPM

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Survivor Bias and Mutual Fund Performance

1996 • 585 citations

Portfolio Selection and Asset Pricing Models

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The effect of estimation risk on optimal portfolio choice

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The Structure and Performance of the Money Management Industry

1992 • 535 citations

Estimation for Markowitz Efficient Portfolios

1980 • 515 citations

Comparing asset pricing models: an investment perspective

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The implementation shortfall

1988 • 466 citations

An Empirical Bayes Approach to Efficient Portfolio Selection

1986 • 407 citations

Estimation Risk and Optimal Portfolio Choice.

1981 • 326 citations

Estimation Risk and Optimal Portfolio Choice.

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Survival

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The Effects of Mutual Fund Managers’ Characteristics on Their Portfolio Performance, Risk and Fees

1996 • 290 citations

Bayesian and CAPM estimators of the means: Implications for portfolio selection

1991 • 239 citations

Costs of Equity Capital and Model Mispricing

1999 • 218 citations

Are some mutual fund managers better than others

1996 • 214 citations

Analyzing investments whose histories differ in length

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Re-Emerging Markets

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Aggregate Performance of Mutual Funds, 1948-1967

1970 • 140 citations

A Bayesian approach to testing portfolio efficiency

1987 • 119 citations

Econometrics and decision theory

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Bayesian Inference and Portfolio Efficiency

1995 • 102 citations

Posterior, predictive, and utility-based approaches to testing the arbitrage pricing theory

1990 • 83 citations