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7. Financial Anomaly 1) What is financial anomaly? (3 marks) 2) What is momentum effect and explain how momentum effect is against efficient market

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7. Financial Anomaly 1) What is financial anomaly? (3 marks) 2) What is momentum effect and explain how momentum effect is against efficient market hypothesis. (10 marks) 3) Give an example to show how to construct momentum strategies to make zero-cost, risk-free profits. (12 marks)

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