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Business, 14.11.2019 03:31 njones58emailtjcedu
Suppose the momentum strategy (i. e., buy past winners and short past losers) yields impressive returns because it really represents compensation for some type of risk that investors are concerned about. in other words, the positive returns to the momentum strategy reflect that the strategy is "risky". under this scenario, would you expect the momentum strategy to still yield positive returns on average in the future? answer "yes" or "no".
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