Patience is a Virtue - In Value Investing

Thorsten Hens and Klaus Schenk-Hoppé
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Thorsten Hens: University of Zurich, Norwegian School of Economics and Business Administration, and Swiss Finance Institute

No 18-26, Swiss Finance Institute Research Paper Series from Swiss Finance Institute

Abstract: This note illustrates a simple but important insight for financial investment. In a heterogeneous agent-based evolutionary finance market model with long-lived assets, markets are stable if clients of fundamental ('value') investment funds are more patient than clients of other funds.

Keywords: Financial market stability; delegated fund management; investor patience; agent-based modeling; evolutionary finance (search for similar items in EconPapers)
JEL-codes: C63 D53 G18 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2018-03, Revised 2018-04
New Economics Papers: this item is included in nep-hme
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Patience Is a Virtue: In Value Investing (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:chf:rpseri:rp1826

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