Cameron Peng

The existing literature has documented “reaching for yield”—the phenomenon of investing more in risky assets when interest rates are lower—among...

We survey thousands of affluent American investors to examine the relationship between personalities and investment decisions. The Big Five...

The Review of Financial Studies, 35(4), 1682–1722

Journal of Financial Economics, 143(2), 716-741

A mutual fund’s demand for a pricing factor, measured by the loading of the fund’s returns on the factor’s returns, is persistent over time. When...

We propose an extrapolative model of bubbles to explain the sharp rise in prices and volume observed in historical financial bubbles. The model...

Due to their complex features, structured financial products can hurt the average investor. Are certain investors particularly vulnerable? Using...

The literature has provided over a dozen explanations for the widely documented excessive trading puzzle of retail investors trading so much that it...