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Old 05-18-2011, 07:30 AM   #1
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Default global beauty chi flat iron [经济学人].The.Economi

efficient-market hypothesis,beats by dre logo, which suggests that past price movements should provide no guide
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risky,global beauty chi flat iron, or by arguing that the trading costs involved in such a strategy would eat up all the profits.
Although the momentum effect has been amply documented it has never been properly
explained. Perhaps investors are slow to react when the fortunes of companies change; one good
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A second puzzle is why the effect has not been arbitraged away. The answer probably lies in
timing. Clearly the momentum effect cannot last for ever or share prices would head for infinity.
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