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Abstract
In this commentary, we make the analogy between market liquidity and its components and engine torque and horsepower. This analogy is used to appreciate the importance of contrarian investing and enables us to think more clearly about the influence of potential regulatory changes.
TOPICS: Legal/regulatory/public policy, style investing, analysis of individual factors/risk premia
- Copyright © 2012 The Bank of New York Mellon Corporation. All rights reserved. Not to be reproduced of redistributed without permission.
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versus Torque
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