6,214 research outputs found

    Short Sale Constraints and Stock Returns

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    Stocks can be overpriced when short sale constraints bind. We study the costs of short selling equities, 1926-1933, using the publicly observable market for borrowing stock. Some stocks are sometimes expensive to short, and it appears that stocks enter the borrowing market when shorting demand is high. We find that stocks that are expensive to short or which enter the borrowing market have high valuations and low subsequent returns, consistent with the overpricing hypothesis. Size-adjusted returns are one to two percent lower per month for new entrants, and despite high costs it is profitable to short them.

    Airborne aerosol lidar

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    The objectives are: to analyze dual polarization lidar measurements of aerosols and polar stratospheric clouds (PSCs) obtained aboard the NASA Ames DC-8 aircraft during the 1989 Airborne Arctic Stratospheric Expedition (AASE); and to combine lidar, SAM II, and other AASE data with theoretical modeling calculations to study PSC characteristics. A summary of progress and results is given

    Beam steering in the LHC era

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    Summary: LHC operations

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    What constitutes a good control system for operations?

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    The requirements that operations have of a control system are enumerated without reference to implementation. Examples from the SPS and LEP are used to illustrate possible solutions and pitfalls. The key constituents of a control system from an operational viewpoint are then highlighted. Some suggestions about how they might be provided are discussed in the conclusion

    LHC during the Sector Test

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    LHC Pre-Commissioning - The Sector Test: Discussion

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