There are many ideas that “work”, but yet are still invalid. How can this be? Think for a moment: theft “works” in the sense that it gets you what you want at the cheapest possible price - free. However, it’s not valid because you have to violate someone else’s rights to property in order to get the thing you stole. In the realm of investing, there are similar theories that “work” but simply aren’t valid investment strategies…

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