This study explores which asset classes add value to a traditional portfolio of stocks, bonds
and cash. Next, we determine the optimal weights of all asset classes in the optimal portfolio. …

On average, stocks deliver close to zero returns from May through October. We hypothesize
that this seasonal pattern is caused by an optimism cycle. With year end approaching, …

… * Ronald Doeswijk is an investment strategist at the Institute for Research and Investment
Services BV (IRIS), a joint venture between the Rabobank and Robeco Group. The author …

This study examines the existence of the initial underpricing and the long-term underperformance
anomalies in the Dutch IPO market between 1977 and 2001. We found an average …

This study examines the profitability of insider trading on Euronext Amsterdam. To improve
market transparency, disclosure of insider trading has been required in the Netherlands since …

This paper examines the annual revision of the AEX index in the Netherlands. This particular
index is interesting because the revision rules enable investors to anticipate changes in …

Using a global sample of mergers and acquisitions exceeding a transaction value of USD 1
bln in 1998, this paper examines the short-term reaction of stock prices and analysts' …

… We refer to and quote from the 2005 version of Doeswijk (2008) to stress the fact that the
optimism cycle hypothesis as well as the sector rotation strategy stem from a paper released in …

In this study, we examine the Dutch mergers and acquisitions market for the ten-year period
1997-2006. This study only includes cases where the target company was quoted on the …

… At the time of the revision we estimate that around 10% of the index weight is shifted, see
Doeswijk (2005). In other words, during March we do not derive the exact sector-neutral …