![[MFIN TS 44] The Myth Of Business Cycle Sector Rotation](https://cdn.stayhappening.com/events10/banners/82c62d7e96d888cb446a874c403db08fde29c2efc1ffd6b947f203267e3d3720-rimg-w960-h502-gmir?v=1712536498)
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Whether sector rotation is random or systematic, join us to find out how it affects investment strategy in the next business cycle.[???? ???????? ??] ??? ???? ?? ???????? ????? ?????? ????????
Conventional wisdom suggests that sectors/industries provide systematic performance and that business cycle rotation strategies generate excess market performance. However, we find no evidence of systematic sector performance where popular belief anticipates it will occur.
At best, conventional sector rotation generates modest outperformance, which quickly diminishes after allowing for transaction costs and incorrectly timing the business cycle. The results are robust to alternative sector and business cycle definitions. We find that relaxing sector rotation assumptions and letting any industry excess return predict future returns of other industries results in predictability that is not significantly different from what would be expected by random chance.
- ????: 8:30 am - 12:00 pm
- ????: Sunday, April 14 2024
- ?????: Hall A.103 - The University of Economics HCMC - 59C Nguyen Dinh Chieu, Ward Vo Thi Sau, District 3, HCMC.
- ????????: English
- ???: 1.000.000 VND/ticket
- ???????????? ????: https://bit.ly/TalkshowMFIN_14Apr2024
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Speaker: Dr Jeffrey Stangl (BA, MBA, PhD, CFA)
College Director, International (MBS)
Massey Business School - Deputy PVC's Office
Director - Strategic Partnerships
Massey Business School - Deputy PVC's Office
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International School of Business - The University of Economics, Ho Chi Minh City
Address: Floor 6, 79 Nguyen Dinh Chieu, Vo Thi Sau Ward, District 3
Website: https://massey.edu.vn/
Hotline: 0792 789 790 (Ms. Duyen)
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Event Venue & Nearby Stays
Đại học Kinh tế TP. Hồ Chí Minh, 59B Đường Nguyễn Đình Chiểu, Phường Võ Thị Sáu, Quận 3, Hồ Chí Minh, Việt Nam,Ho Chi Minh City, Vietnam