Translating Market Inefficiencies into Effective Investment Strategies

The Handbook of Equity Market Anomalies organizes and
summarizes research carried out by hundreds of finance and
accounting professors over the last twenty years to identify and
measure equity market inefficiencies and provides self-directed
individual investors with a framework for incorporating the results
of this research into their own investment processes. Edited by Len
Zacks, CEO of Zacks Investment Research, and written by leading
professors who have performed groundbreaking research on specific
anomalies, this book succinctly summarizes the most important
anomalies that savvy investors have used for decades to beat the
market.

Some of the anomalies addressed include the accrual anomaly, net
stock anomalies, fundamental anomalies, estimate revisions, changes
in and levels of broker recommendations, earnings-per-share
surprises, insider trading, price momentum and technical analysis,
value and size anomalies, and several seasonal anomalies. This
reliable resource also provides insights on how to best use the
various anomalies in both market neutral and in long investor
portfolios. A treasure trove of investment research and wisdom, the
book will save you literally thousands of hours by distilling the
essence of twenty years of academic research into eleven clear
chapters and providing the framework and conviction to develop
market-beating strategies.

• Strips the academic jargon from the research and highlights the
  actual returns generated by the anomalies, and documented in the
  academic literature


• Provides a theoretical framework within which to understand the
  concepts of risk adjusted returns and market inefficiencies


• Anomalies are selected by Len Zacks, a pioneer in the field of
  investing

As the founder of Zacks Investment Research, Len Zacks pioneered
the concept of the earnings-per-share surprise in 1982 and
developed the Zacks Rank, one of the first anomaly-based stock
selection tools. Today, his firm manages U.S. equities for
individual and institutional investors and provides investment
software and investment data to all types of investors. Now, with
his new book, he shows you what it takes to build a quant process
to outperform an index based on academically documented market
inefficiencies and anomalies.