John F. Kennedy School of Government, Harvard University. The research was supported by grants from the Bradley Foundation and the Decision, Risk, and Management Science Program of the National Science Foundation. We thank Robert Zeckhauser, whose interest in the hot hands phenomenon stimulated this investigation, Sheridan Titman for providing data on the P8 indices, and David Modest for allowing us to use the Henriksson-Lehmann-Modest sample of mutual fund returns. Helpful comments from Richard Ruback, Lawrence Summers, G. William Schwert, two referees, the editor René Stulz, and seminar participants at Cornell University, the conference on “Economics of Financial Markets” at Johns Hopkins University, the Harvard Business School, the Kennedy School of Government, and the National Bureau of Economic Research are gratefully acknowledged.
Hot Hands in Mutual Funds: Short-Run Persistence of Relative Performance, 1974–1988
Article first published online: 30 APR 2012
1993 The American Finance Association
The Journal of Finance
Volume 48, Issue 1, pages 93–130, March 1993
How to Cite
HENDRICKS, D., PATEL, J. and ZECKHAUSER, R. (1993), Hot Hands in Mutual Funds: Short-Run Persistence of Relative Performance, 1974–1988. The Journal of Finance, 48: 93–130. doi: 10.1111/j.1540-6261.1993.tb04703.x
- Issue published online: 30 APR 2012
- Article first published online: 30 APR 2012
Options for accessing this content:
- If you have access to this content through a society membership, please first log in to your society website.
- If you would like institutional access to this content, please recommend the title to your librarian.
- Login via other institutional login options http://onlinelibrary.wiley.com/login-options.
- You can purchase online access to this Article for a 24-hour period (price varies by title)
- If you already have a Wiley Online Library or Wiley InterScience user account: login above and proceed to purchase the article.
- New Users: Please register, then proceed to purchase the article.
Login via OpenAthens
Search for your institution's name below to login via Shibboleth.
Registered Users please login:
- Access your saved publications, articles and searches
- Manage your email alerts, orders and subscriptions
- Change your contact information, including your password
Please register to:
- Save publications, articles and searches
- Get email alerts
- Get all the benefits mentioned below!