Mutual fund herding is endangering the stock market, writes Mark Hulbert in the NY Times
. No, funds are not literally cows. Herding is the tendency of funds to have an abnormally high level of purchases or sales in an particular quarter. A paper by three professors claims that this heavy trading has added volatility to some stock prices. Hulbert also kills off the idea that individual investors cannot follow this trend by pointing out that it is based on public information.
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