How could these anomalies exist when rational investors are, Financial Management

How could these anomalies exist when rational investors are

We have discussed in the class that investors have various biases when forming expectations or making decisions. These biases may cause mispricing in financial markets such as and earnings announcement drift, stock price momentum, and stock price reversal. How could these anomalies exist when rational investors are ready to exploit from the mispricing?

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Financial Management: How could these anomalies exist when rational investors are

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