Perhaps one reason panglossian market conditions can persist in the age of Twitter and Instagram is that omnipresent social media allow us to edit out anything that vaguely threatens our preferred mindset about stocks.
Momentum investing can seem like an insult to your intelligence. Why should prices go up just because they have gone up in the past? But there is plenty of evidence that momentum investing works in the medium term.
The momentum effect in investing refers to the tendency of stocks and other financial assets to show persistence in their relative performance. Despite convincing data, momentum hasn’t been widely embraced as an investment strategy.
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