Are Equity Markets Manipulated?

Are Equity Markets Manipulated?

Radovan Vojtko Radovan Vojtko

Radovan Vojtko

Quantpedia.com - The Encyclopedia of Algorithmic & Quantitative Trading Strategies

发布日期: 2018年12月13日
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We present two interesting research papers written by Bruce Knuteson. He contemplates why the cyclically adjusted price to earnings ratio of the S&P 500 index has been oddly high for the past two decades. He states that persistently strong equity market in US (and therefore also its high valuation in a comparison to history) and also in other developed countries can be an outcome of intraday trading pattern of several huge quant equity long-short funds which aggressively buy in the morning and sell in the afternoon to expand their trading book (or alternatively to simply manipulate market - push prices of stocks in their portfolio up).

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