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Smart Money Bets On Recovery
Aug 30, 2010 Roger M. Edelen The Relative Sentiment Indicator: On the Asset Allocation Decisions of Institutional vs. Retail Investors Edmonton [Canada] Journal
A study by Roger M. Edelen, an assistant professor of management at the UC Davis Graduate School of Management, with colleagues at Boston College, concluded that institutional investors are less reactive to shifts in market sentiment than retail investors and better at collecting and processing information about future prospects.

