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

Jess Beltz and Robert Jennings

Review of Financial Economics, 1997, vol. 6, issue 1, 15-27

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.

Date: 1997
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https://doi.org/10.1016/S1058-3300(97)90012-4

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Persistent link: https://EconPapers.repec.org/RePEc:wly:revfec:v:6:y:1997:i:1:p:15-27

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