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Market Efficiency Hates Bad Weather

Market Efficiency Hates Bad Weather by Wesley R. Gray, Ph.D., Alpha Architect, Author of Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors.

Building on research in psychology, we predict that unpleasant weather negatively affects capital market participants’ moods and activity levels, causing a muted response to information events…

The...


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