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If the value and momentum and size factors are legitimate, then it stands to reason that there could be other more obscure, less intuitive and more profitable a
by Tycho 7y ago
If the value and momentum and size factors are legitimate, then it stands to reason that there could be other more obscure, less intuitive and more profitable anomalies. Are those limited to very small magnitudes? Maybe, but I don't see why that should necessarily be so. It seems like EMH is predicated on the idea that the only investment opportunities are ones that map to human reasoning.