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Cited by 1,087

The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.

Hedge Funds and the Technology Bubble

Open access
K. BRUNNERMEIER, MARKUS, NAGEL, STEFAN·2004·The Journal of Finance
DOI 10.1111/j.1540-6261.2004.00690.x
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Abstract

This paper documents that hedge funds did not exert a correcting force on stock prices during the technology bubble. Instead, they were heavily invested in technology stocks. This does not seem to be the result of unawareness of the bubble: Hedge funds captured the upturn, but, by reducing their positions in stocks that were about to decline, avoided much of the downturn. Our findings question the efficient markets notion that rational speculators always stabilize prices. They are consistent with models in which rational investors may prefer to ride bubbles because of predictable investor sentiment and limits to arbitrage.

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Crossref · 10.1111/j.1540-6261.2004.00690.x

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Metadata

Authors
K. BRUNNERMEIER, M., & NAGEL, S.
Venue
The Journal of Finance
Publisher
Wiley
Published
2004-10
Volume
59
Issue
5
Pages
2013-2040
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2004.00690.x
OpenAlex
W3121287044
Cited by
1,087
References
2
FWCI
55.15
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Hedge Funds and the Technology Bubble. https://app.cochat.ai/papers/10.1111/j.1540-6261.2004.00690.x
The paper
K. BRUNNERMEIER, M., & NAGEL, S. (2004). Hedge Funds and the Technology Bubble. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2004.00690.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.