TY - JOUR T1 - Practical Applications of Timing Poorly: <em>A Guide to Generating Poor Returns While Investing in Successful Strategies</em> JF - Practical Applications SP - 1 LP - 4 DO - 10.3905/pa.2016.3.4.155 VL - 3 IS - 4 AU - Jason Hsu AU - Brett W. Myers AU - Ryan Whitby A2 - Mack, Barbara J. Y1 - 2016/04/30 UR - https://pm-research.com/content/3/4/1.12.abstract N2 - Timing Poorly: A Guide to Generating Poor Returns While Investing in Successful Strategies Jason Hsu Brett W Myers Ryan Whitby The causes and persistence of the value premium remain a mystery to finance researchers. Do the actions of small, na?ve individual investors provide the premiums for more-sophisticated investors? Even when the value premium has been notably high, the average value investor in mutual funds has done worse than a buy-and-hold investor in an S&amp;P 500 Index fund.In Timing Poorly: A Guide to Generating Poor Returns While Investing in Successful Strategies , Jason Hsu of Rayliant Global Advisers , Brett W. Myers of Texas Tech University and Ryan Whitby of Utah State University study the allocations and timing decisions of less-sophisticated investors and find that small investors may be giving up value to the benefit of larger, more-sophisticated investors. The authors conclude that financial education is needed to help less-sophisticated investors capture the value in their value investments.TOPICS: VAR and use of alternative risk measures of trading risk, portfolio theory ER -