The Power Of Passive Investing

April 20, 2011

1 Hoffmann, A. O. I., Hersh M. Shefrin, and Joost M. E. Pennings, Behavioral Portfolio Analysis of Individual Investors, Working Paper Series, June 24, 2010.

2 K. Smith, “Is Fund Growth Related to Fund Performance?” Journal of Portfolio Management 2 (1978): 307–328.

3 Richard A. Ippolito, “Consumer Reactions to Measures of Poor Quality: Evidence from the Mutual Fund Industry,” Journal of Law and Economics 35 (1992): 45–70.

4 Diane Del Guercio and Paula Tkac, “Star Power: The Effect of Morningstar Ratings on Mutual Fund Flows,” (working paper, Federal Reserve Bank of Atlanta, March 2001).bnotes.indd 249 10/19/10 1:25:16 PM

5 Diane Del Guercio and Paula Tkac, “The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds versus Pension Funds” (working paper, Federal Reserve Bank of Atlanta, November 2000).

6TrimTabs Investment Research, 2010.

7 Amit Goyal and Sunil Wahal, “The Selection and Termination of Investment Management Firms by Plan Sponsors,” The Journal of Finance 63, no. 4 (August 2008): 1805–1847.

8 Jeffrey A. Busse, Amit Goyal, and Sunil Wahal, “Performance and Persistence in Institutional Investment Management,” The Journal of Finance 65, no. 2 (April 2010): 765–790.

9 Del Guercio and Tkac, 2000.

10 Edwin Elton, Martin Gruber, and Christopher Blake, “Participant Reaction and the Performance of Funds Offered by 401(k) Plans” (working paper, New York University, 2006).

11 Swensen, David F. Swensen, “Pioneering Portfolio Management,” 2nd ed. (New York: Free Press, 2009), 172.

12 DALBAR, Inc, “QAIB 2010 Quantitative Analysis of Investor Behavior,” 2010.

13 Russel Kinnel, “Bad Times Eats Away at Investor Returns,” February 22, 2010.

14 Andrea Frazzini and Owen A. Lamont, “Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns” (working paper, NBER, August 2005).

15 Richard A. Ferri, “All About Asset Allocation,” 2nd ed. (New York: McGraw-Hill, 2010).


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