TY - JOUR T1 - Fact, Fiction, and Momentum Investing JF - The Journal of Portfolio Management SP - 75 LP - 92 DO - 10.3905/jpm.2014.40.5.075 VL - 40 IS - 5 AU - Clifford Asness AU - Andrea Frazzini AU - Ronen Israel AU - Tobias Moskowitz Y1 - 2014/09/30 UR - https://pm-research.com/content/40/5/75.abstract N2 - It’s been more than 20 years since the academic discovery of momentum investing, yet much confusion and debate remains regarding its efficacy and its use as a practical investment tool. In some cases “confusion and debate” is our attempting to be polite, because it is nearly impossible for informed practitioners and academics to still believe some of the myths uttered about momentum—but that impossibility is often belied by real-world statements. In this article, the authors aim to clear up much of the confusion by documenting what we know about momentum and disproving many of the often-repeated myths. They highlight 10 myths about momentum and refute them, using results from widely circulated academic papers and analysis from simple publicly available data.TOPICS: Exchanges/markets/clearinghouses, portfolio theory ER -