Anecdotally (speaking as a fund manager) it 'feels' like the January effect is happening in Q4 as investors try and front run the January performance.
David -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] On Behalf Of Bryan Caplan Sent: 05 April 2002 20:34 To: [EMAIL PROTECTED] Subject: Re: re : securities analysis William Dickens wrote: > However, as I recall, the increase in expected returns that one gets by following such a strategy are measured in basis points, not percentage points as some advocates of this approach would suggest. So Bill, are you willing to stick your neck out regarding the January effect? Thaler says average ROR in January is 3.5%, versus an average of .5% for all other months. Is this another case of basis points being exagerated into percentage points? -- Prof. Bryan Caplan Department of Economics George Mason University http://www.bcaplan.com [EMAIL PROTECTED] "Smerdyakov suddenly raised his eyes and smiled. 'Why I smile you must understand, if you are a clever man,' he seemed to say." Fyodor Dostoyevsky, *The Brothers Karamozov*
