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“Wall street week with Louis Rukheyser” recommendations:Trading activity and performance

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  • Jess Beltz
  • Robert Jennings

Abstract

We investigate short‐term volume activity and short‐ and longer‐ term returns associated with recommendations made by regular panelists and special guests on the television show “Wall Street Week with Louis Rukheyser”. In particular, we investigate whether selections made on the show have information content and whether the audience appears to discern differing levels of reliability among recommenders. Overall performance statistics are unimpressive. There are, however, differences in return performance between the recommendations of different individuals, and between favorable and unfavorable recommendations. There is little correlation between the 6‐month performance of a recommendation and the abnormal volume at the date the recommendation is made, suggesting the market cannot discern the more insightful recommendations from the less insightful.

Suggested Citation

  • Jess Beltz & Robert Jennings, 1997. "“Wall street week with Louis Rukheyser” recommendations:Trading activity and performance," Review of Financial Economics, John Wiley & Sons, vol. 6(1), pages 15-27.
    • Handle: RePEc:wly:revfec:v:6:y:1997:i:1:p:15-27
    DOI: 10.1016/S1058-3300(97)90012-4
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    References listed on IDEAS

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    1. Lee, Charles M C & Ready, Mark J, 1991. "Inferring Trade Direction from Intraday Data," Journal of Finance, American Finance Association, vol. 46(2), pages 733-746, June.
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