We present the "Tax Day Trade," a one day trade that gains an average of 1/2%. The trade was developed using the "Strategic Analysis of Markets Method (SAMM)" described in the two volume series "The Strategic Analysis of Financial Markets" (forthcoming from World Scientific). Detective work...

This study reviews Tag el-Din's (1996) paper and raises the possibilities that his organizational models may create other kinds of inefficiency. Furthermore, using Canadian stock data we extended his study and found that excess speculative activities (bubbles) do not add any information to the...

Many studies investigate the impact of heterogeneous beliefs in the first moment, while very few in the second moment. This is partially due to continuous-time setup which makes it difficult to incorporate heterogeneous beliefs in the second moment. In a two-period exponential-normal model with...