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  • [𝐌𝐅𝐈𝐍 𝐓𝐚𝐥𝐤𝐬𝐡𝐨𝐰 𝟒𝟒] 𝐓𝐡𝐞 𝐌𝐲𝐭𝐡 𝐎𝐟 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐲𝐜𝐥𝐞 𝐒𝐞𝐜𝐭𝐨𝐫 𝐑𝐨𝐭𝐚𝐭𝐢𝐨𝐧

[𝐌𝐅𝐈𝐍 𝐓𝐚𝐥𝐤𝐬𝐡𝐨𝐰 𝟒𝟒] 𝐓𝐡𝐞 𝐌𝐲𝐭𝐡 𝐎𝐟 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐲𝐜𝐥𝐞 𝐒𝐞𝐜𝐭𝐨𝐫 𝐑𝐨𝐭𝐚𝐭𝐢𝐨𝐧

Conventional wisdom suggests that sectors/industries provide systematic performance and that business cycle rotation strategies generate excess market performance. However, we find no evidence of systematic sector performance where popular belief anticipates it will occur.

At best, conventional sector rotation generates modest outperformance, which quickly diminishes after allowing for transaction costs and incorrectly timing the business cycle. The results are robust to alternative sector and business cycle definitions. We find that relaxing sector rotation assumptions and letting any industry excess return predict future returns of other industries results in predictability that is not significantly different from what would be expected by random chance.
– 𝐓𝐢𝐦𝐞: 8:30 am – 12:00 pm
– 𝐃𝐚𝐭𝐞: Sunday, April 14 2024
– 𝐕𝐞𝐧𝐮𝐞: Hall A.103 – The University of Economics HCMC – 59C Nguyen Dinh Chieu, Ward Vo Thi Sau, District 3, HCMC.
– 𝐋𝐚𝐧𝐠𝐮𝐚𝐠𝐞: English
– 𝐅𝐞𝐞: 1.000.000 VND/ticket
– 𝐑𝐞𝐠𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐥𝐢𝐧𝐤: https://bit.ly/TalkshowMFIN_14Apr2024
Speaker: Dr Jeffrey Stangl (BA, MBA, PhD, CFA)
College Director, International (MBS)
Massey Business School – Deputy PVC’s Office
Director – Strategic Partnerships
Massey Business School – Deputy PVC’s Office
International School of Business – The University of Economics, Ho Chi Minh City
Address: Floor 6, 79 Nguyen Dinh Chieu, Vo Thi Sau Ward, District 3
Hotline: 0792 789 790 (Ms. Duyen)

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