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Larry Swedroe: Investors Love Lottery Stocks

FYI: There are several anomalies that modern financial theory has to deal with. Perhaps the most well-known anomaly for both the CAPM and the Fama-French three-factor models is the existence of momentum in all asset classes.
Regards,
Ted
http://www.etf.com/sections/index-investor-corner/swedroe-investors-love-lottery-stocks
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