# An investor sentiment index, co-developed by Prof. Jeffrey Wurgler, is featured

1 Faculty News June 22, 2012 ![CBS News logo](/sites/default/files/styles/246w/public/assets/images/con_031726.jpg?itok=XPqKNXWl)>

Excerpt from [CBS News](http://www.cbsnews.com/8301-505123_162-57458690/how-investor-sentiment-affects-returns/) -- "Recently, there have been several papers focusing on what is called "investor sentiment" -- the propensity of individuals to trade on "noise" and emotions rather than facts. ... Two researchers, Malcolm Baker and [Jeffrey Wurgler](http://www.stern.nyu.edu/faculty/bio/jeffrey-wurgler), have constructed an investor sentiment index based on the six measures."

[Read more](http://www.cbsnews.com/8301-505123_162-57458690/how-investor-sentiment-affects-returns/)