n Investment Analysts Journal - Investor overreaction on the Johannesburg Stock Exchange

Volume 1999, Issue 49
  • ISSN : 1029-3523
  • E-ISSN: 2077-0227
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Extracted from text ... Number 49 - Part 1 C Muller* Investor overreaction on the Johannesburg Stock Exchange 1. Introduction Turning historic share price time series into profits has long been the aim of technical financial alchemists. Discovering the silver bullet trading rule, or the optimal leading indicator, has been the elusive lure for those who believed that the stock markets were inefficient and that price information held the key to future price movements. Several investigations (for example Roberts, 1959 and Fama, 1965) have shown the major stock markets to be weak-form efficient markets, and the Johannesburg Stock Exchange (JSE) is no exception. However, ..

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