Lie 8

15 Lies About Trading And Investing– Lie 8

Lie 8: Stock Market Momentum Is A Robust Anomaly

Momentum has become a popular buzzword in the past few years due to books, academic papers, and blogs. The basic claim is that momentum is a robust anomaly because it has persisted for a long time, as backtests show, and therefore it will continue delivering high risk-adjusted returns to stock market investors.

There are two basic types of momentum: relative and . . .

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Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated performance results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Hypothetical trading results are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

Lie 8

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