Studiu non-astrologic: legatura dintre ciclul lunar si evolutia bursei

In 2001 doi profesori de la 'University of Michigan Business School',  Ilia D. Dichev si Troy D. Janes au realizat un studiu care avea ca obiectiv analiza corelatie dintre ciclul lunar si evolutia bursei.

Concluzia lor a fost urmatoarea:

"We find strong lunar cycle effects in stock returns. Specifically, returns in the 15 days around new moon dates are about double the returns in the 15 days around full moon dates. This pattern of returns is pervasive; we find it for all major U.S. stock indexes over the last 100 years and for nearly all major stock indexes of 24 other countries over the last 30 years. In contrast, we find no reliable or economically important evidence of lunar cycle effects in return volatility and volume of trading. Taken as a whole, this evidence is consistent with popular beliefs that lunar cycles affect human behavior."

Va invit sa cititi intregul studiu fie direct de pe site http://www.fep.up.pt/disciplinas/ce726/Lunar%20Cycles.pdf  fie de aici http://www.ascella.ro/files/Lunar Cycles.pdf

Dan