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    • Individuals neglect the informational role of prices: evidence from the stock market 

      Chague, Fernando Daniel; Bueno, Rodrigo de Losso da Silveira; Giovannetti, Bruno Cara
      2018-02
      We find that a stock price fall in itself induces individual investors to buy the stock. That is, individuals neglect the negative information that may be attached to a stock price fall. Our identification strategy uses ...
    • The short-selling skill of institutions and individuals 

      Chague, Fernando Daniel; De-Losso, Rodrigo; Giovannetti, Bruno Cara
      2017
      Using market-wide data from the Brazilian stock lending market, we nd strong evidence of short-selling skill among institutions and individuals. Skilled short-sellers present out-of-sample performance persistence, both ...