Short-Term Contrarian Profits in the Kuwait Stock Market
This paper examines whether there is an existence of a short-term contrarian profits at the firms in Kuwait Stock
Exchange (KSX). The role of return seasonality is also investigated. This article documents strong evidence for
the short-term contrarian strategy in the Kuwait stock exchange. The result of this study finds that the short-term
contrarian profits for the Kuwait market can?t be explained by January effect. In spite of whether losers are
smaller or larger than winners, there are short-term abnormal profits. Finally, this paper shows a strong
symmetry between the winner and loser portfolios.