This statistical study refines and updates Sharpe’s empirical paper (1975, Financial Analysts Journal) on switching between US common stocks cash equivalents. According to the original conclusion, profitable market timing relies a representative portfolio manager who can correctly forecast next year at least 7 times out of 10. Four changes are made setting. The new data set begins ends with sim...

Conventionally, manufacturing firms determine the time to introduce a new product to the market long before launching the product. As the rate of technological innovation increases, product life cycles become shorter, and the timing for introducing a new product becomes more important. As a result, firms need to dynamically determine the market entry timing depending on the evolution of uncerta...

Both market timing and investment-based theories of corporate financing predict underperformance after firms raise capital, but only market timing predicts that the composition of financing (equity compared to debt) should also forecast returns. In cross-sectional tests, we find that the amount of net financing is more important than its composition in explaining future stock returns. In the ti...

Market timing is a popular active investment strategy that promises to beat the market. However, the evidence on the ability of timers to outperform the market is mixed. This paper provides strong supporting evidence of the timing ability of RTE Asset Management by investigating the implemented buy and sell recommendations derived from its proprietary computerized model over the 1979±1999 perio...