Apr

14

Some recent instances:

company name  3 03     4 14

bac           3.6      10.1

ge            7.0      11.5

dow           6.9      10.6

dell          9.1      10.5

One of first studies I ever performed with the CRSP data for every stock monthly from 1926 to present was to look at all breaks of the round number 10 from below.

It gave an extroadinarily alluring result but suffered from the multicollinearity of all cross sectional studies in that most broke through the round number at a particular glorious time, like 1933, and then showed their 1000% returns in tandem.


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