1980 and 1995 an internationally diversified portfolio of past medium-term Winners outperforms a portfolio of medium-term Losers after correcting for risk by more than one percent per month. Return continuation is present in all twelve sample countries and lasts on average for about one year

, especially negative information, diffuses only gradually across the investing public. SEVERAL RECENT PAPERS HAVE DOCUMENTED that, at medium-term horizons ranging from three to 12 months, stock returns exhibit momentum-that is, past winners continue to perform well, and past losers continue to perform poorly

losers outperform long-term past winners over the subsequent three to five years. Jegadeesh (1990) and Lehmann (1990) find short-term return reversals. Jegadeesh and

managers buy (sell), and positive-feedback trading, which refers to buying past winners and selling past losers. These two aspects of trading are commonly a part of the argument that institutions destabilize stock prices. The evidence suggests that pension managers do not strongly pursue these potentially

interviewed by telephone at the time of illness, 3 months later, and 6 months later to compare disease severity, duration of illness, and medium-term clinical outcomes. Results. There was no difference between 145 persons with ciprofloxacin-resistant infection and 411 with ciprofloxacin-susceptible infection

negative ~positive! earnings surprises over the next eight quarters. Past trading volume also predicts both the magnitude and persistence of price momentum. Specifically, price momentum effects reverse over the next five years, and high ~low! volume winners ~losers! experience faster reversals

changes in WHRs of Miss America winners and Playboy playmates have occurred over the past 30-60 years. Study 2 shows that college-age men find female figures with low WHR more attractive, healthier, and of greater reproductive value than figures with a higher WHR. In Study 3, 25- to 85-year-old men were

-based practices. When we observe these claims, we may wonder when they may be satisfied: on the short, medium or long term or even never perhaps for some of them. This paper tries to propose a vision of the development of MDE based on some lessons learnt in the past 30 years in the development of object

Relative health performance in BRICS over the past 20 years:

Q: You are a writer of short stories, a form which publishers have often been wary of in the past. Do you think that’s still the case? A: Publishers seem to have a fear of short stories, and I think it’s got worse as the industry has become more commercially driven − so lots of publish-ers now say