Professor of Finance Russ Wermers at the University of Maryland’s Robert H. Smith School of Business recently gave the keynote speech for the for the fourth annual Luxembourg Asset Management Summit.
The Smith School hosted a forum Tuesday on global market volatility, aimed at making sense of the recent tumult in international markets — notably in China, but also spilling over into other regions, including the United States. Finance faculty participants Russ Wermers, Haluk Unal, Albert "Pete" Kyle, Bill Longbrake, Phillip L. Swagel and Steve Heston. share their insights. Read more...
Say on Pay, which gives shareholders a nonbinding vote on executive compensation, leads companies to reduce excessive pay in certain circumstances. That's according to new research by Smith professor Russ Wermers and a coauthor. Previous academic studies of Say on Pay have found mixed results, with some concluding that the provision—part of the Dodd-Frank legislation and in effect since 2011—has had no effect. But Wermers says: "Say on Pay does empower small institutional shareholders." Read more...
Russ Wermers, professor of finance at the University of Maryland’s Robert H. Smith School of Business, will provide expertise, as an affiliate, to one of the largest economic consulting firms in North America.
Finding a stock picker who can beat the market can be daunting, as many mutual funds that outperform over a short period struggle to repeat the feat in the long run. Russ Wermers, professor of finance and director of the Center for Financial Policy at the Smith School, tells the Wall Street Journal’s Weekend Investor that figuring out which manager got lucky and which manager has skill is tough. “It’s incredibly difficult to judge the quality of a fund ahead of time,” Wermers said. Read the full article, How to Pick a Stock Picker.
In the last quarter of 2011, the hedge fund SAC Capital filed a Freedom of Information request asking for documents regarding inspections of plants operated by Charles River Laboratories, which conducts pharmaceutical research. SAC apparently didn’t get bad news, because it increased its shares in Charles River from about 70,000 to 240,000 during that same calendar quarter. The stock rose, and SAC sold most of it in the next quarter. Read more...
WASHINGTON, D.C. — Financial regulators and researchers explored new ideas on May 16, 2014, during a daylong conference co-hosted by the Securities and Exchange Commission and the Center for Financial Policy at the University of Maryland’s Robert H. Smith School of Business.
Research by Russell Wermers
Hedge fund monitoring lag solved; breakthrough formula offers a new shield for institutional investments
Curt Grimm, Dean’s Professor of Supply Chain and Strategy, received his PhD in economics from the University of California-Berkeley, with primary focus on industrial organization.
Knowing how the best mutual fund managers are choosing their portfolios can be valuable information for investors, if stocks picked by skilled fund managers really outperform those picked by unskilled managers. But it has been difficult to test this hypothesis, since it is not clear how to use fund holdings to pick stocks.