Sebastian Stöckl
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    • **[Lost in Translation](/publications/2026_lost_in_translation/)** is now published in *Journal of Forecasting*
    • Paper **[Lost in Translation](/publications/2026_lost_in_translation/)** accepted in the *Journal of Forecasting*!
  • Publications
    • The Event Clock: Identifying Physical Information from State Prices
    • Populism and Financial Markets
    • The Milei Question, or: How Liberal Are Right-Wing Populist Parties? A Measurement Approach Using Large Language Models
    • Post-Optimal Moment Correction Aligned with the Sharpe Gap
    • Lost in Translation? Risk-Adjusting RMSE for Economic Forecast Performance
    • Learning Before Scheduled Events: Prediction Markets, State Prices, and Option Valuation
    • Unpriced Sector Risk in the Factor Zoo: The Role of Industry Momentum
    • Are There Fences in the Global Factor Zoo?
    • Breaking Bad: Parameter Uncertainty Caused by Structural Breaks in Stocks
    • Factor Chasing and the Cross-Country Factor Momentum Anomaly
    • Less Is More: Ranking Information, Estimation Errors and Optimal Portfolios
    • Stochastic Event-Outcome Probabilities and the Pricing of Scheduled Event Risk
    • Estimating Crypto-Related Risk: Market-Based Evidence from FTX's Failure and Its Contagion on U.S. Banks
    • Regime-Dependent Drivers of the EUR/CHF Exchange Rate
    • Diversifying Estimation Errors with Unsupervised Machine Learning
    • Recovering Election Winner Probabilities from Stock Prices
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    • The Price of Populism - Financial Market Outcomes of Populist Electoral Success
    • Higher Moments Matter! Cross-Sectional (Higher) Moments and the Predictability of Stock Returns
    • Cryptocurrencies: Herding and the Transfer Currency
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    • Credit Intermediation and the Transmission of Macro-Financial Uncertainty: International Evidence
    • What Drives Our Beer Consumption? - In Search of Nutrition Habits and Demographic Patterns
    • Turbulence in the Cross-Section: Predicting Factor Premia
    • Bid-Ask Spread Patterns and the Optimal Timing for Discretionary Liquidity Traders on Xetra
    • PRIX – A Risk Index for Global Private Investors
    • The Economic Benefit of Forecasting Market Components for Mean-Variance Investors
    • Towards a Well-Founded Valuation of Managerial Flexibilities in IT Investment Projects - A Multidisciplinary Literature Review
    • Decision Support for IT Investment Projects
    • Financial Applications of the Mahalanobis Distance
    • Die Riemannsche Vermutung
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    • Finance Research Seminar — University of Liechtenstein
  • Talks
    • Less is More: Ranking Information, Estimation Errors and Optimal Portfolios
    • The Theme Structure of Factor Momentum
    • Risk-Adjusting Forecasts for Increased Portfolio Performance
    • Are There Fences in the Global Factor Zoo?
    • Breaking Bad: Parameter Uncertainty Caused by Structural Breaks in Stocks
    • Lost in Translation: How Predictability Turns Into Performance
    • Breaking Bad: Parameter Uncertainty Caused by Structural Breaks in Stocks
    • (Un-)Lost in Translation: Risk-adjusting RMSE to improve alignment of forecast accuracy and economic forecast performance
    • Asset Allocation and AI
    • Factor Chasing and the Cross-Country Factor Momentum Anomaly
    • Less is More: Ranking Information, Estimation Errors and Optimal Portfolios
    • Factor Chasing and the Cross-Country Factor Momentum Anomaly
    • Factor Chasing and the Cross-Country Factor Momentum Anomaly
    • Too much information: When reducing the informational content of input parameters yields better portfolios
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Return
    • Portfolio Rules and Factor Premia under Ambiguity
    • The Price of Populism: Financial Market Outcomes of Populist Electoral Success
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Returns
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Returns
    • Turbulence in the Cross-Section: Predicting Factor Premia
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Returns
    • Political Populism and Financial Markets
    • Turbulence in the Cross-Section: Predicting Factor Premia
    • Turbulence in the Cross-Section: Predicting Factor Premia
    • Turbulence in the Cross-Section: Predicting Factor Premia
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Return
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Returns
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Return
    • Parameter Uncertainty, Financial Turbulence and Aggregate Stock Returns
    • Financial Turbulence, Parameter Uncertainty and Aggregate Stock Returns
    • Higher Moments Matter! Cross-Sectional (higher) Moments and the Predictability of Stock Returns
    • Financial Turbulence and Aggregate Stock Returns
    • The Economic Benefit of Forecasting Market Components for Mean-Variance Investors
    • Financial Turbulence and Aggregate Stock Returns
    • Portfolio Turbulence and the Predictability of Stock Returns
    • Portfolio Turbulence and the Predictability of Stock Returns
    • Comoment Factors and the Predictability of Stock Returns
    • Valuation of Real Options on IT Investments — A Simulation Model based on Modified Assumptions
    • Financial Applications of the Mahalanobis Distance
    • PRIX - A Risk Index for Global Private Investors
    • Financial Applications of the Mahalanobis Distance
    • PRIX - A Risk Index for Global Private Investors
    • What drives our beer consumption? - In search of nutrition habits and demographic patterns
    • A Risk Index for Global Private Investors
    • Towards a Precise Valuation of Interdependent IT Projects – A Real Option Approach Considering Unhedgeable Risks
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Less is More: Ranking Information, Estimation Errors and Optimal Portfolios

Nov 21, 2026·
Lukas Salcher
Sebastian Stöckl
Sebastian Stöckl
· 1 min read

Presented in session J.2 — Investor Beliefs and Asset Prices.

Last updated on 2026-09-12
Authors
Sebastian Stöckl
Associate Professor in Financial Economics
The Theme Structure of Factor Momentum 2026-11-20 →

© 2026 Dr. Sebastian Stöckl