Event title

Finance Seminar: Professor Stephen Brown

Professor Stephen Brown
Presenter bio: 

For more information on Professor Stephen Brown please visit his Monash University staff profile.

Using a novel data set of hedge fund manager automobile purchases, we show that, motivated by sensation seeking, hedge fund managers often take risk for personal and non-pecuniary reasons. In line with the sensation seeking view, managers who own powerful sports cars take on more investment risk but do not deliver higher returns, resulting in lower Sharpe ratios. Moreover, funds managed by performance car owners exhibit higher operational risk and are more likely to fail. Performance car owners demonstrate other attributes associated with sensation seeking, such as a preference for lottery-like stocks, unconventional strategies, and active trading.

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If you are interested in attending the seminar, please contact Albert Chun.

Friday 08 Sep 2017
10:30am to 12:00pm
Event location: 
General Purpose North (39A), Room 209