Long-Term Contrarian profits in the Middle East Market Indices
This paper examines whether there is an existence of a long-term contrarian profits at the Middle East (ME)
market indices. This paper shows strong evidence for the long-term contrarian strategy in the Middle East
indices. The result of this study demonstrates that the long-term contrarian profits for the Middle East markets
can?t be explained by two-factor model. In spite of whether winners are smaller or larger than losers, there are
long-term abnormal profits. Finally, the findings in this paper suggest that the long-term contrarian profits may
be stronger and more enveloping than is usually understood.