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re: Economics Book Club (EBC): Book 4 Starts Aug 21 (The Smartest Guys in the Room)
Posted on 6/4/17 at 7:28 pm to RickySauwce
Posted on 6/4/17 at 7:28 pm to RickySauwce
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This post was edited on 1/10/21 at 6:47 pm
Posted on 6/4/17 at 8:02 pm to The Baker
The January effect, of course. The theory is that investors sell stocks in December for tax purposes and then buy them back in January, causing persistent seasonal outperformance in the month of January. The problem, of course, is that there's no free lunch in an efficient market and that phenomenon would be arbitraged away over time. If that kind of thing interests you, particularly the dangers associated with buying into behavioral pitfalls of this sort, there are numerous more examples in the CFA curriculum that we could expound on.
This post was edited on 6/4/17 at 8:04 pm
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