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Time-Varying Fund Manager Skill 28 Jul 2013 | 06:09 am
Another interesting paper forthcoming in Journal of Finance investigates the stock picking and market timing abilities of mutual fund managers. Quotation We propose a new definition of skill as a ge...
European Option Price with Excess Skewness and Kurtosis 10 May 2013 | 04:57 pm
Stock returns however exhibit nonormal skewness and kurtosis as pointed out by Hull (1993) and Nattenburg (1994). Moreover, the volatility skews are a consequence of the empirical normality assumption...
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