This study introduces an emotion-based market sentiment measure, showing that stocks with high emotion sensitivity outperform others, generating a 6–9% annualized alpha. The effect persists for up to six months, revealing exploitable mispricing.
View the full article Investor Emotions and Asset Prices
In Practice Member Companion Brief
Read Brief
CFA Institute Premium Member Content
This is available to the following CFA Institute membership classes: CFA charterholders, Professionals, and Affiliates.