# Professor Jeffrey Wurgler's joint research on investor sentiment is referenced

1 Faculty News May 3, 2019 ![MarketWatch logo](/sites/default/files/styles/246w/public/assets/images/marketwatch%20logo.jpg?itok=pHUVfozf)>

Excerpt from [MarketWatch](https://www.marketwatch.com/story/a-frothy-stock-market-thats-just-fake-news-2019-05-03) -- "Consider a stock market sentiment index that was introduced 15 years ago by Harvard Business School professor Malcolm Baker and New York University finance professor Jeffrey Wurgler. In a landmark study published in the prestigious Journal of Finance, they reported that their index had an impressive historical record identifying periods of extreme bullishness or bearishness."

[Read more](https://www.marketwatch.com/story/a-frothy-stock-market-thats-just-fake-news-2019-05-03)