# Professor Emeritus Stephen Brown's research on hedge funds

Research in the News

— May 20, 2016

As seen in: The Wall Street Journal

![Wall Street Journal logo](/sites/default/files/styles/246w/public/assets/images/wsjlogo.jpg?itok=5Qt0z3WX)

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Excerpt from [The Wall Street Journal](http://www.wsj.com/articles/should-you-follow-berkshire-hathaway-into-apple-stock-1463749685) -- "Academics have previously found a more significant two-day effect [of hedge fund investments on stocks], but that is for fast-moving day traders, not investors. Over a month, a study a few years ago by [Stephen Brown](http://www.stern.nyu.edu/faculty/bio/stephen-brown) of New York’s Stern School of Business and Christopher Schwarz of the University of California found no impact from 1999 to 2008."

[Read more](http://www.wsj.com/articles/should-you-follow-berkshire-hathaway-into-apple-stock-1463749685)