@article {Hamza65, author = {Olfa Hamza and Maher Kooli}, title = {Do {\textquotedblleft}Hot Hands{\textquotedblright} Exist in Funds of Hedge Funds?}, volume = {16}, number = {4}, pages = {65--80}, year = {2014}, doi = {10.3905/jwm.2014.16.4.065}, publisher = {Institutional Investor Journals Umbrella}, abstract = {One of the most important news events for the U.S. stock markets is certainly the election of the President. This study seeks to determine whether market reactions to elections are a valuable source of information for investors. Using data for the years 1896{\textendash}2001, a momentum effect appears during the remainder of the election year, a slight reversal effect appears across the president{\textquoteright}s term, and a strong reversal effect appears during the President{\textquoteright}s second year in office. The difference in campaign information during the election and actual subsequent economic policy implementations may explain why the market{\textquoteright}s vote does count.TOPICS: Real assets/alternative investments/private equity, security analysis and valuation, analysis of individual factors/risk premia}, issn = {1534-7524}, URL = {https://jwm.pm-research.com/content/16/4/65}, eprint = {https://jwm.pm-research.com/content/16/4/65.full.pdf}, journal = {The Journal of Wealth Management} }