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- W2590411394 abstract "ABSTRACTThis article finds evidence of significant reversals in returns over the medium term in Greek stocks. In contrast with previous research, return reversals are more pronounced for past winners, suggesting that the market overreacts to a greater extent to good news. These contrarian returns are particularly elevated when portfolios are formed using quartiles and during tranquil and bull markets. The optimum contrarian strategy involves skipping the first 6 months of the holding period and implementing the contrarian strategy for a period of 18 months, as returns exhibit continuation followed by reversal. The profitability of the contrarian investment strategy is robust to adjustments for risk and seasonalities. It is the tranquil times and not the crisis/volatile times that generates a significant and profitable contrarian strategy. The recent credit crisis and resulting stock market falls, resulted in extreme movements in some Greek stocks and testing of the contrarian strategy problematic, especia..." @default.
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- W2590411394 date "2017-02-22" @default.
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- W2590411394 title "The winner-loser anomaly: recent evidence from Greece" @default.
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- W2590411394 doi "https://doi.org/10.1080/00036846.2017.1293786" @default.
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