"Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing. Therefore, just as water retains no constant shape, so in warfare there are no constant conditions."
Sun Tzu


A collection of links to basic 3rd party research, which has been influential to my trading. Articles are discussing the momentum- and mean reversion effects as well as studies on individual investors performance. I'll keep updating this list when I'll come across relevant research.

Can Individual Investors Beat the Market? (Coval, 2003)
Discussion of the observation that most individuals do not beat the market, but some do so on a consistent basis.

Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiencies (Jegadeesh, 1993)
One of the most influential papers documenting the price momentum effect in stocks.

Momentum in Financial Markets: Why Newton was Wrong (The Economist, 2011)
Mainstream media article discussing the momentum effect.

Active Equity Managers in the US: Do the Best Follow Momentum Strategies? (Mulvey, 2008)
Concluding that active managers can improve their performance by adopting momentum rules.

Study of Fat-tail Risk (Cook Pine Capital LLC, 2008)
Brief study discussing that markets act more volatile than assumed by classical mathematical models, which would also support the observation of momentum effects.

A Slinky (Short-term) Reversion Effect? (CXO, 2010)
Observing a weak short-term (one to five days) mean reversion effect in the stock market. Short-term mean reversion is an important anomaly exploited by swing traders.