Markus Ibert
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View article: Equity Return Expectations and Portfolios: Evidence from Large Asset Managers
Equity Return Expectations and Portfolios: Evidence from Large Asset Managers Open
Collecting large asset managers’ capital market assumptions, we revisit the relationships between subjective equity premium expectations, equity valuations, and financial portfolios. In contrast to the well-documented extrapolative expecta…
View article: Replication Data for: "Equity Return Expectations and Portfolios: Evidence from Large Asset Managers
Replication Data for: "Equity Return Expectations and Portfolios: Evidence from Large Asset Managers Open
This code replicates the main tables and figures in "Equity Return Expectations and Portfolios: Evidence from Large Asset Managers".
View article: What do mutual fund managers’ private portfolios tell us about their skills?
What do mutual fund managers’ private portfolios tell us about their skills? Open
I study a registry-based dataset of Swedish mutual fund managers' personal portfolios. The majority of managers do not invest personal wealth into the very same funds they professionally manage. The managers who do invest personal money in…
View article: Are Stocks Pricing in Recession Risks? Evidence from Dividend Futures
Are Stocks Pricing in Recession Risks? Evidence from Dividend Futures Open
Since the beginning of this year, broad equity price indexes around the world have declined significantly. In interpreting the declines, market commentaries have highlighted the risks to the economic outlook in the United States and other …
View article: Runs on Algorithmic Stablecoins: Evidence from Iron, Titan, and Steel
Runs on Algorithmic Stablecoins: Evidence from Iron, Titan, and Steel Open
Stablecoins---digital currencies pegged to an external reference (e.g., the US dollar)---play an increasingly important role in transacting digital currencies. However, with a peg to an external reference comes the risk that the peg breaks…
View article: The Stock Market–Real Economy "Disconnect": A Closer Look
The Stock Market–Real Economy "Disconnect": A Closer Look Open
Between March and September 2020, broad equity price indexes around the world experienced a historic rally. Although this rally followed a significant decline in stock prices, it appears difficult to explain due to continuing concerns abou…
View article: Are Mutual Fund Managers Paid for Investment Skill?
Are Mutual Fund Managers Paid for Investment Skill? Open
Compensation of mutual fund managers is paramount to understanding agency frictions in asset delegation. We collect a unique registry-based dataset on the compensation of Swedish mutual fund managers. We find a concave relationship between…
View article: Are Mutual Fund Managers Paid For Investment Skill?
Are Mutual Fund Managers Paid For Investment Skill? Open
Compensation of mutual fund managers is paramount to understanding agency frictions in asset delegation.We collect a unique registry-based dataset on the compensation of Swedish mutual fund managers.We find a concave relationship between p…