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See detailMutual Funds’ Returns from Providing Liquidity and Costs of Immediacy
Rinne, Kalle UL; Suominen, Matti UL

E-print/Working paper (2014)

We present evidence that some mutual funds systematically act as contrarian traders, and earn returns in the stock market by providing liquidity to investors that demand immediacy, while others ... [more ▼]

We present evidence that some mutual funds systematically act as contrarian traders, and earn returns in the stock market by providing liquidity to investors that demand immediacy, while others systematically realize costs of immediacy. On average, the mutual funds’ costs of immediacy exceed their returns from providing liquidity. The funds with outflows, flows that correlate with industry flows, high market beta funds, and funds highly exposed to the momentum strategy suffer the most in costs of immediacy. The mutual funds’ average underperformance can be explained with their costs of immediacy. Finally, the funds’ historical costs of immediacy predict their alphas. [less ▲]

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See detailDo open-market repurchases supply or demand immediacy?
Rinne, Kalle UL

Scientific Conference (2013, December)

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See detailAktive Fonds sind besser als ihr Ruf
Rinne, Kalle UL

Article for general public (2013)

Detailed reference viewed: 37 (3 UL)
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See detailDo open-market repurchases supply or demand immediacy?
Rinne, Kalle UL

Scientific Conference (2013)

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See detailDo Mutual Funds Supply or Demand Immediacy?
Rinne, Kalle UL; Suominen, Matti UL

Scientific Conference (2013)

Detailed reference viewed: 60 (9 UL)
Peer Reviewed
See detailDo Mutual Funds Supply or Demand Immediacy?
Rinne, Kalle UL; Suominen, Matti UL

Scientific Conference (2013)

Detailed reference viewed: 60 (5 UL)
Peer Reviewed
See detailHow Some Bankers Made a Million by Trading Just Two Securities?
Rinne, Kalle UL; Suominen, Matti UL

Scientific Conference (2012)

Detailed reference viewed: 84 (2 UL)
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See detailDo open-market repurchases supply or demand immediacy?
Rinne, Kalle UL

Scientific Conference (2012)

Detailed reference viewed: 18 (9 UL)
Peer Reviewed
See detailDo open-market repurchases supply or demand immediacy?
Rinne, Kalle UL

Scientific Conference (2012)

Detailed reference viewed: 21 (8 UL)
Peer Reviewed
See detailDo open-market repurchases supply or demand immediacy?
Rinne, Kalle UL

Scientific Conference (2012)

Detailed reference viewed: 14 (4 UL)
Peer Reviewed
See detailA Structural Model of Short-Term Reversals
Rinne, Kalle UL; Suominen, Matti UL

Scientific Conference (2012)

Detailed reference viewed: 107 (9 UL)
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See detailA Structural Model of Short-term Reversals
Rinne, Kalle UL; Suominen, Matti

Scientific Conference (2012)

Detailed reference viewed: 53 (1 UL)
Peer Reviewed
See detailDo Hedge Funds Supply or Demand Immediacy?
Jylhä, Petri; Rinne, Kalle UL; Suominen, Matti

Scientific Conference (2012)

Detailed reference viewed: 49 (0 UL)
See detailMutual Funds’ Returns from Providing Liquidity and Costs of Immediacy
Rinne, Kalle UL; Suominen, Matti

Presentation (2012)

Detailed reference viewed: 13 (0 UL)