The Buffett Effect

Paweł Robert Smoliński, Siddharth Saridevi · 2026 · SSRN Electronic Journal

DOI: 10.2139/ssrn.7591980 · cited by 0 works (OpenAlex) · open-access PDF

Abstract

We study whether stock disclosures by recognizable investors generate abnormal market reactions beyond the reactions produced by comparable but non-recognizable managers. We define the Buffett effect as the incremental abnormal return to a disclosed new position that is attributable to the public recognition of the disclosing investor. We construct a recognition index from Wikipedia pageviews and ProQuest news mentions. Using data from 2000 to 2025 we compare market reaction to disclosures of 24 recognizable discretionary funds with disclosures of 24 matched control funds. New-position disclos

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Topics: Construct (python library), Business, Copying, Position (finance), Control (management), Monetary economics

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