摘要：Should you bet on the previous year’s losers of the Standard and Poor’s 500 index? In this paper, we empirically investigate this simple contrarian trading strategy. Contrarian trading strategies have been well studied in the academic literature, but few provide an empirical assessment of the performance of this trading strategy. For 2001-2014, we present graphical and statistical evidence to determine if, on average, betting on the previous year’s losers outperforms the index for different investment horizons.
