Public companies in the US stock market must annually report their activities and financial performances to the SEC by filing the so-called 10-K form. Recent studies have demonstrated that changes in the textual content of the corporate annual filing can convey strong signals of companies’ future returns. In this study, we combine natural language processing techniques and network science to introduce a novel 10-K-based network, named Lazy Network, that leverages year-on-year changes in companies’ 10-Ks detected using a neural network embedding (...) model. The Lazy Network aims to capture textual changes derived from financial or economic changes on the equity market. Leveraging the Lazy Network, we present a novel investment strategy that attempts to select the least disrupted and stable companies by capturing the peripheries of the Lazy Network. We show that this strategy earns statistically significant risk-adjusted excess returns. Specifically, the proposed portfolios yield up to 95 basis points in monthly five-factor alphas, outperforming similar strategies in the literature. (shrink)

Sante De Sanctis (1862—1935), a pioneer of psychology in Rome at the end of the 19th century, applied methods from the expanding field of experimental psychology to the study of dreams, which was considered one of the leading ways to gain an understanding of normal and pathological psychic life. Taking inspiration from several traditions, De Sanctis proposed a study that anticipated a scientific program that also differentiated between contemporary psychoanalytical interpretations according to which previous dream psychology was considered a 'dark (...) forest'. On the contrary, the multi-faceted methodology that he adopted for the study of an, until then, marginal phenomenon of the 'new' psychology, represented an element of originality that also included the elaboration of a psycho-physiological theory of dreams. Although the Italian psychologist's work on dreams was characterized by these important methodological changes, it disappeared from the references of those who contributed to the foundation of modern dreaming psychology after the Second World War. The present article places De Sanctis' psychology of dreams in its scientific context and singles out its originality while also analyzing the reasons for its marginalization. (shrink)

Con un'impostazione che coniuga la fedeltà testuale e l'approfondimento critico, il percorso di questo libro mira a ricondurre l'edificazione kierkegaardina - spesso considerata mera esortazione spirituale - allo spessore autenticamente filosofico d'una via soggettiva alla verità. Un modello antioggettivistico di filosofare senza perdere di vista né l'esercizio del dubbio né la dimensione della fede. Attraverso l' interpretazione kierkegaardiane di C. Fabro si è giunti all'esposizione e ai lineamenti descrittivi fondamentali della nozione del singolo. Il singolo viene presentato dallo stesso Kierkegaard (...) come la mia categoria. Sta di fatto che si può intendere l'intera produzione kierkegaardiana come un pensare soggettivamente il singolo. Pensiero etico carico di conseguenze pratiche, giacchè il danese non pretendeva fondare una scuola filosofica ma soltanto rendere attenti, svegliare le coscienze. (shrink)

L'originalité du traité Sur le style de Démétrios réside avant tout dans sa théorie du style élégant et du style puissant. L'alliance de la puissance et de la grâce produit des effets « effrayants ». Les « grâces effrayantes » de Démétrios semblent annoncer l'idée du sublime en tant qu' « horreur délicieuse » telle que la proposera Edmund Burke The originality of Demetrios' Treaty on Style is first and foremost in his theory of an elegant style and strong style. (...) The alliance of strength and elegance leads to frightening effects. Demetrios' frightening elegances seem to forecast the idea of the delightful horror as Edmund Burke will suggest later. (shrink)