1) You are a portfolio manager meeting a client. During the conversation that followed your formal review of the account, your client asked the following question:

"my son, who is studying investment in the Graduate School of business at Depaul University, tells me that one of the best ways to make money in the stock market is to buy stock of small-capitaliozation firms on a monday morning late in December and sell the stock one month later. What is he talking about?

Identify and describe the apparent market anomalies that would justfy the proposed strategy. Explain why you believe such a strategy might not work in the future,