Maik Schmeling

TL;DR: The authors examined consumer confidence as a proxy for individual investor sentiment and found that when sentiment is high, future stock returns tend to be lower and vice versa, and employed a cross-sectional perspective and provided evidence that the impact of sentiment on stock returns is higher for countries which have less market integrity and which are culturally more prone to herd-like behavior and overreaction.

TL;DR: The authors investigated the relation between global foreign exchange (FX) volatility risk and the cross-section of excess returns arising from popular strategies that borrow in low-interest rate currencies and invest in high interest rate currencies, so-called carry trades.

TL;DR: This article investigated the relation between global foreign exchange (FX) volatility risk and the cross-section of excess returns arising from popular strategies that borrow in low-interest rate currencies and invest in high interest rate currencies, so-called ''carry trades''.

TL;DR: In this paper, the authors provide a broad empirical investigation of momentum strategies in the foreign exchange market and find a significant cross-sectional spread in excess returns of up to 10% p.a. between past winner and loser currencies.

TL;DR: In this article, the authors provide a broad empirical investigation of momentum strategies in the foreign exchange market and find a significant cross-sectional spread in excess returns of up to 10% per annum (p.a.) between past winner and loser currencies.