Discussion Slides

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2013

• Discussion of: "Horizon Pricing," by Avraham Kamara, Robert A. Korajczyk, Xiaoxia Lou and Ronnie Sadka. 2013 AFA Meetings, 5 January, 2013.

• Discussion of: "Time Varying Market Efficiency," by Ferhat Akbas, Will J. Armstrong, Sorin Sorescu and Avanidhar Subrahmanyam. 2013 AFA Meetings, 4 January, 2013.

• Discussion of: "Speculative Betas," by Harrison Hong and David Sraer. NBER Behavioral Finance Working Group -- Fall Meeting, 3 November, 2012.

• Discussion of: "Carrry," by Ralph Koijen, Toby Moskowitz, Lasse Pedersen, and Evert Vrugt. LSE-Paul Woolley Center Annual Conference, 8 June, 2012.

• Discussion of: "Financial Intermediaries and the Cross-Section of Asset Returns," by Tobias Adrian, Erkko Etula and Tyler Muir. 2012 AFA Meetings 6 January, 2012.

• Discussion of: "An Empirical Decomposition of Risk and Liquidity in Nominal and Inflation-Indexed Government Bonds," by Carolin Pflueger and Luis Viciera. NBER Summer Institute Capital Markets and the Economy Workshop 18 July, 2011

• Discussion of: "The Short of It: Investor Sentiment and Anomalies," Rob Stambaugh, Jianfeng Yu, and Yu Yuan, NBER Behavioral Finance Meeting, April 30, 2011.

• Discussion of "Risk Taking and Implicit Guarantees Inside Financial Firms," by Marcin Kacperczyk and Philipp Schnabl. The Texas Finance Festival, April 16, 2011.

• Discussion of "Heterogeneous Gain Learning and the Dynamics of Asset Prices," by Blake LeBaron. Conference on Heterogeneous Expectations and Economic Stability, Columbia University, Feb 11, 2011.

• Discussion of "The Behavior of Intoxicated Investors: The role of institutional investors in propagating the financial crisis of 2007-2008," by Alberto Manconi, Massimo Massa and Ayako Yasuda. NBER Market Institutions and Financial Market Risk Conference, June 17, 2010.

• Discussion of "Securitized Banking and the Run on Repo" by Gary Gorton and Andrew Metric. Moody's/NYU Credit Conference, May 13, 2010.

• Discussion of "Value and Momentum Everywhere" by Cliff Asness, Toby Moskowitz and Lasse Pedersen. NBER -- Asset Pricing Summer Institute, July 11, 2008.

• Discussion of "What Happened To The Quants In August 2007?" by Amir E. Khandani and Andrew W. Lo. NBER -- Risks of Financial Institutions Group Meeting, April 24, 2008.

• Discussion of "Helping Individuals Manage Risk," by Robert J. Shiller. 2008 BeFi Conference, March 27, 2008.

• Discussion of "Commonality in Misvaluation, Equity Financing, and the Cross Section of Stock Returns," by David Hirshleifer and Danling Jiang. 2008 AFA Meetings, January 4, 2008

• Discussion of "Risks for the Long Run: Estimation and Inference," by Ravi Bansal, Dana Kiku and Amir Yaron, 2007 Neemers Prize Conference, October 25, 2007.

• Discussion of "A Tale of Two Anomalies: The Implications of Investor Attention for Price and Earnings Momentum," by Kewei Hou, Lin Peng and Wei Xiong. American Finance Association Meetings, January 6, 2007.

• Discussion of "Default Risk Premia and Asset Returns," by Antje Berndt, Aziz A. Lookman, and Iulian Obreja. American Finance Association Meetings, January 5, 2007.

• Discussion of "Benchmarking Money Manager Performance: Issues and Evidence," by Louis Chan, Dimmock and Josef Lakonishok. Kellogg Hedge Fund Conference August 15, 2006.

• Discussion of "In Search of Distress Risk" (Garlappi, Shu and Yan) and "Default Risk, Shareholder Advantage, and Stock Returns" (Campbell, Hilscher and Szilagyi). NYU/Moody's Credit Conference May 9, 2006.

• Discussion of "Gone Fishin’: Seasonality and Speculative Trading in Asset Prices," by Harrison Hong and Jialin Yu. NBER University Research Conference May 13, 2005.

• Discussion of "Strategic Release of Information on Friday: Evidence from Earnings Announcements," by Stefano DellaVigna \& Joshua Pollet. 2005 AFA Meetings. January 6, 2005.

• Discussion of "Growth or Glamour," by John Y. Campbell, Christopher Polk, and Tuomo Vuolteenaho, , NBER - 2003 Behavioral Finance Group Meeting. 11/15/03.

• Discussion of "Testing Behavioral Finance Theories Using Trends and Sequences in Financial Performance," by Wesley Chan, Richard Frankel, and S. P. Kothari, , JAE Conference on Market Efficiency, Valuation and Mispricing:. 10/5/03.

• Discussion of "Consumption Risk and Cross-Sectional Returns," by Jonathan A. Parker and Christian Julliard, NBER - 2003 Summer Institute Asset Pricing Program Meeting. 7/17/03.

• Discussion of "What do we do with our Pension Money? Recent Evidence from 401(k) Plans". by Julie Agnew and Pierluigi Balduzzi. 2003 AFA Meetings. 1/4/03.

• Discussion of "Do Industries Lead the Stock Market? Inattention, Delayed Reaction and Cross-Asset Return Predictability," by Harrison Hong, Walter Torous, and Rosses Valkanov 2002 Vail Real Estate Research Conference. 8/12/02.

• Discussion of "Do Asset Prices Reflect Fundamentals?: Freshly Squeezed Evidence From the FCOJ Market," by Jacob Boudoukh, Matthew Richardson, YuQing Shen and Robert Whitelaw, NBER - 2002 Summer Institute Asset Pricing Program Meeting. 7/18/02.

• Discussion of "The Stock Market Crash of 1929: Irving Fisher was Right!" by Ellen R. McGrattan and Edward C. Prescott. II Banco de Portugal Conference on Monetary Economics. 6/21/02.

• Discussion of "Managing with Style: The Effect of Managers on Firm Policies", by Marianne Bertrand and Antoinette Schoar. NBER Spring Corporate Finance Seminar. 5/19/02.

• ****Discussion of "Does Risk or Mispricing Explain the Cross-Section of Stock Prices?," by Randolph Cohen, Christopher Polk and Tuomo Vuoltennaho. NBER Spring Asset Pricing Program Meeting. 3/1/02.

• Discussion of "Can Mutual Fund `Stars' Really Pick Stocks? New Evidence from a Bootstrap Analysis," by Robert Kosowski, Allan Timmermann, Hal White, and Russ Wermers. 2002 AFA Meetings. 1/6/02.

• Discussion of "Short Sale Constraints and Stock Returns," by Charles Jones and Owen Lamont, NBER Behavioral Finance Meeting. 10/11/01.

• Discussion of "How Does the Internet Affect Trading? Evidence from Investor Behavior in 401(k) Plans," by James J. Choi, David Laibson and Andrew Metrick, 2001 WFA Meetings. 6/22/01.

• Discussion of "Equilibrium Cross-Section of Returns," by Joao Gomes, Leonid Kogan, and Lu Zhang. 2001 WFA Meetings. 6/21/01.

• Discussion of "Breadth of Ownership and Stock Returns," by Joseph Chen, Harrison Hong, and Jeremy C. Stein. Texas Finance Festival 4/19/01.

• Discussion of "Competing Theories of Financial Anomalies," by Alon Brav and J.B. Heaton. Conference on Asset Prices and the Stock Market Federal Reserve Bank of Atlanta. 9/15/00.

• Discussion of "Does Shareholder Composition Affect Stock Returns? Evidence from Corporate Earnings Announcements," by Edith S. Hotchkiss and Deon Strickland. NBER Corporate Finance Meetings. 8/8/00.

• Discussion of "Why Don't Issuers Get Upset About Leaving Money on the Table," by Tim Loughran and Jay Ritter. Society for Financial Studies Conference on Market Frictions. 4/15/00.

• Discussion of "Public Trading and Private Incentives," by Antoine Faure-Grimaud and Denis Gromb, Texas Finance Festival, 4/8/00.

• Discussion of "If at First You Don't Succeed: An Experimental Investigation of the Impact of Repetition Options on Corporate Takeovers and the Provision of Public Goods," by Ann B. Gillette and Thomas H. Noe. 2000 Econometric Society Meetings, 1/9/00.

• Discussion of "Stock Market Valuation of R&D Expenditures," by Louis Chan, Josef Lakonishok, and Theodore Sougiannis. 2000 AFA Meetings. 1/7/00.

• Discussion of "Legal Determinants of Return on Equity," by Davide Lombardo and Marco Pagano 2000 AFA Meetings. 1/7/00.