45 research outputs found
The German Banking System and the Global Financial Crisis: Causes, Developments and Policy Responses
Full text linkSkilled But Unaware of It: Occurrence and Potential Long-Term Effects of Females' Financial Underconfidence
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Abusing ETFs
Full text linkDo ETFs, one of the most popular investment products in recent times, benefit individual investors? Using data from one of the largest brokerages in Germany, we find that individual investors do not improve their portfolio performance, even before transactions costs, by using these passive products. Using counterfactual analysis, we show that this occurs mostly from buying ETFs at “wrong” points in time rather than choosing “wrong” ETFs. Therefore, adopting a buy-and-hold strategy is more important than selecting better ETFs for individual investors
It Takes Two to Tango: Households' Response to Financial Advice and the Role of Financial Sophistication
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