User profiles for R. Wermers

Russ Wermers

Professor of Finance
Verified email at umd.edu
Cited by 21799

Mutual fund herding and the impact on stock prices

R Wermers - the Journal of Finance, 1999 - Wiley Online Library
We analyze the trading activity of the mutual fund industry from 1975 through 1994 to determine
whether funds “herd” when they trade stocks and to investigate the impact of herding on …

Measuring mutual fund performance with characteristic‐based benchmarks

…, M Grinblatt, S Titman, R Wermers - The Journal of …, 1997 - Wiley Online Library
This article develops and applies new measures of portfolio performance which use
benchmarks based on the characteristics of stocks held by the portfolios that are evaluated. …

[PDF][PDF] Momentum investment strategies, portfolio performance, and herding: A study of mutual fund behavior

M Grinblatt, S Titman, R Wermers - American Economic Review, 1995 - aeaweb.org
This study analyzes the extent to which mutual funds purchase stocks based on their past
returns as well as their tendency to exhibit" herding" behavior (ie, buying and selling the same …

Mutual fund performance: An empirical decomposition into stock‐picking talent, style, transactions costs, and expenses

R Wermers - The Journal of Finance, 2000 - Wiley Online Library
We use a new database to perform a comprehensive analysis of the mutual fund industry. We
find that funds hold stocks that outperform the market by 1.3 percent per year, but their net …

Outcomes of parathyroidectomy in patients with primary hyperparathyroidism: a systematic review and meta-analysis

…, JP Brito, P Erwin, M Richards, R Wermers… - World journal of …, 2016 - Springer
Background Parathyroidectomy is a definitive treatment for primary hyperparathyroidism.
Patients contemplating this intervention will benefit from knowledge regarding the expected …

The efficacy and safety of vertebral augmentation: a second ASBMR task force report

…, W Katzman, A Rodriguez, R Wermers… - Journal of Bone and …, 2019 - academic.oup.com
Vertebral augmentation is among the current standards of care to reduce pain in patients
with vertebral fractures (VF), yet a lack of consensus regarding efficacy and safety of …

Can mutual fund “stars” really pick stocks? New evidence from a bootstrap analysis

R Kosowski, A Timmermann, R Wermers… - The Journal of …, 2006 - Wiley Online Library
We apply a new bootstrap statistical technique to examine the performance of the US open‐end,
domestic equity mutual fund industry over the 1975 to 2002 period. A bootstrap …

Epidemiology, pathophysiology, and genetics of primary hyperparathyroidism

…, J Pepe, R Rizzoli, R Wermers… - Journal of Bone and …, 2020 - academic.oup.com
In this narrative review, we present data gathered over four decades (1980–2020) on the
epidemiology, pathophysiology and genetics of primary hyperparathyroidism (PHPT). PHPT is …

False discoveries in mutual fund performance: Measuring luck in estimated alphas

L Barras, O Scaillet, R Wermers - The journal of finance, 2010 - Wiley Online Library
This paper develops a simple technique that controls for “false discoveries,” or mutual funds
that exhibit significant alphas by luck alone. Our approach precisely separates funds into (1) …

The value of active mutual fund management: An examination of the stockholdings and trades of fund managers

HL Chen, N Jegadeesh, R Wermers - Journal of Financial and …, 2000 - cambridge.org
Wermers gratefully acknowledges prior support from the Richard M. Burridge Center for …
More recently, Wermers (2000) finds that high turnover funds outperform index funds on a net …