Closed-End Investment Companies

Historic Returns and Investment Strategies

Authors

  • Carolyn Reichert Southwest Texas State University.
  • J. Douglas Timmons Department of Economics and Finance, P.O. Box 27, Middle Tennessee State University, Muffreesboro, TN 37132

DOI:

https://doi.org/10.1016/S1057-0810(99)80004-3

Abstract

Studies conducted in the past have identified inefficiencies in the market for Closed- End Investment Company (CEIC) shares. In addition, studies have demonstrated the potential for trading strategies to exploit these inefficiencies. The purpose of this paper is to investigate the possibility of achieving excess returns through the utilization of relatively simple strategies not requiring continuous monitoring of discount(s) orfrequent trading. Our investigation demonstrates that realizing excess returns through the use of simple mechanical trading strategies will not be possible.

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Published

1998-06-30

How to Cite

Reichert, C., & Timmons, J. D. (1998). Closed-End Investment Companies: Historic Returns and Investment Strategies. Financial Services Review: The Journal of Individual Financial Management, 7(2), 83–93. https://doi.org/10.1016/S1057-0810(99)80004-3

Issue

Vol. 7 No. 2 (1998): Financial Services Review

Section

New Original Submission

License

Copyright (c) 1998 JAI Press Inc.

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