Does it Pay to Pay Attention?

 

 

Speaker: Antonio Gargano, University of Melbourne

 

We employ a novel brokerage account dataset to investigate which individual investors are the most attentive, how investors allocate their attention, and the relation between investor attention and performance. Attention is positively related to investment performance, both at the portfolio return level and the individual trades level. We provide evidence that the superior performance of high-attention investors arises because they purchase attention-grabbing stocks whose positive performance persists for up to six months. Finally, we show that paying attention is particularly profitable when trading stocks with high uncertainty, but for which a lot of public information is available.

 

A light lunch will be provided at 1p.m. Please RSVP for catering purposes to Mala Kapahi by 12 noon on Monday 7th May 2018.

 

Time: 12.00 – 1.00 p.m.

Venue: University of Technology, Sydney

             Building 8, Room 8.002, Dr Chau Chak Wing Building
             Dr Chau Chak Wing Building

            14 - 28 Ultimo Road, Ultimo

 

 

Enquiries: Mala Kapahi (Ph: +61 2 9514 7777