Talk:January effect
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If the cited reason (end of year selling) was the cause of "the January effect", then December should show depressed returns on average, which is not supported with the chart presented. Also... (a) not all markets have financial year at calendar year so this should not be presented as relevant to all markets and (b) if market returns shown are measured as gross return on entire capital markets then those return figures are massively dominated by large companies ... which makes the comments about "especially small-cap stocks" unsupported without citation. ie the article implies small caps would show larger returns than the chart presents, which seems unlikely especially in an age where so much analysis is being performed by so many people.
The article should contain cautionary notes to those who might try to invest on this basis.
[edit] Fair use rationale for Image:Pyat rublei 1997.jpg
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BetacommandBot 11:29, 6 July 2007 (UTC)
