- The chart below provides a window on a significant market anomaly that has received less attention than it deserves.
- American Airlines is just one of a number of stocks and other assets that have exhibited this behavior.
- If an investor had been able to go long the blue line with a short in the red line, that investor would have experienced a 100% per annum positive return.
- This phenomenon is not limited to AAL stock and has broader implications for active individual investors, questions of overall market efficiency, and the current debate on market reforms.
For further details see:
The 'Grandmother' Of All Market Anomalies?