Explanations sexy lesbian porn for momentum

A mom sex number of explanations have been put forth in the literature to explain the momentum anomaly. In general, these explanations typically fall into one of two categories: risk-based and investor behavior-based arguments. The risk-based argument is based on the idea that high-risk investments should earn higher returns. Thus, it could be the case that momentum returns are merely compensation to investors for the inherent high risk of momentum portfolios or compensation for some unique risk associated with momentum investing. However, as some of the aforementioned research has shown, it appears that momentum returns remain significant even after controlling for risk.

Other hentai porn pics studies have tried to explain momentum and reversals using models in which investors possess certain psychological biases, namely, investor overconfidence, biased self-attribution, and confirmatory bias, including the work of Daniel, Hirshleifer and Subrahmanyan (1998), Hong and Stein (1999), and Friesen, Weller and Dunham (2009).

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