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Calendar Anomalies And Arbitrage (World Scientific Series In Finance Book 2)

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Calendar Anomalies And Arbitrage (World Scientific Series In Finance Book 2)

4.85 94,817 ratings · 7,113 reviews
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Overview: This book discusses calendar or seasonal anomalies in worldwide equity markets as well as arbitrage and risk arbitrage. A complete update of US anomalies such as the January turn-of-the year, turn-of-the-month, January barometer, sell in May and go away, holidays, days of the week, options expiry and other effects is given concentrating on the futures markets where these anomalies can be easily applied. Other effects that lend themselves to modified buy and hold cash strategies include the presidential election and factor models based on fundamental anomalies. The ideas have been used successfully by the author in personal and managed accounts and hedge funds.Contents: Introduction — Calendar Anomalies (C S Dzhabarov and W T Ziemba)Playing the Turn-of-the-Year Effect with Index Futures (R Clark and W T Ziemba)Arbitrage Strategies for Cross-Track Betting on Major Horse Races (D B Hausch and W T Ziemba)Locks at the Racetrack (D B Hausch and W T Ziemba)Arbitrage and Risk Arbitrage in Team Jai Alai (D Lane and W T Ziemba)Miscellaneous InsertsRisk Arbitrage in the Nikkei Put Warrant Market of 1989–1990 (J Shaw, E O Thorp and W T Ziemba)Design of Anomalies Funds: Concepts and Experience (D R Capozza and W T Ziemba)Land and Stock Prices in Japan (D Stone and W T Ziemba)The Chicken or the Egg: Land and Stock Prices in Japan (W T Ziemba)Japanese Security Market Regularities: Monthly, Turn-of-the-Month and Year, Holiday and Golden Week Effects (W T Ziemba)Seasonality Effects in Japanese Futures Markets (W T Ziemba)Day of the Week Effects in Japanese Stocks (K Kato, S L Schwartz and W T Ziemba)Comment on “Why a Weekend Effect?” (W T Ziemba)The Turn-of-the-Month Effect in the World's Stock Markets, January 1988 – January 1990 (T Martikainen, J Perttunen and W T Ziemba)The Turn-of-the-Month Effect in the U.S. Stock Index Futures Markets, 1982–1992 (C Hensel, and G A Sick and W T Ziemba)Worldwide Security Market Anomalies (W T Ziemba and C R Hensel)Worldwide Security Market Regularities (W T Ziemba)Cointegration Analysis of the Fed Model (M Koivu, T Pennanen and W T Ziemba)The Predictive Ability of the Bond-Stock Earnings Yield Differential Model (K Berge, G Consigli and W T Ziemba)Efficiency of Racing, Sports, and Lottery Betting Markets (W T Ziemba)The Favorite-Longshot Bias in S&P500 and FTSE 100 Index Futures Options: The Return to Bets and the Cost of Insurance (R G Tompkins, W T Ziemba and S D Hodges)The Dosage Breeding Theory for Horse Racing Predictions (M Gramm and W T Ziemba)An Application of Expert Information to Win Betting on the Kentucky Derby, 1981–2005 (R S Bain, D B Hausch and W T Ziemba)Readership: Students, researchers and professionals who are interested in stock market investment and futures trading strategies.

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Pages N/A
Language Eng
Publisher World Scientific
Published June 29, 2012
ISBN 20680357
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William T. Ziemba
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After spending years working in the corporate world, William T. Ziemba finally decided to pursue a lifelong passion for writing. They currently reside in a quiet suburb where they spend most of their time outlining new stories, reading extensively, and occasionally attempting to bake.

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Ryan Carter
Ryan Carter May 22, 2025
A decent, if standard, experience. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perfectly average.
Gary Jackson
Gary Jackson December 18, 2025
I find myself somewhat conflicted. It verged on repetitive in the second act. A more concise edit would have served it well. Unlikely to reread, but a reasonable expenditure of time.
Carol Jones
Carol Jones March 26, 2025
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Cynthia Roberts
Cynthia Roberts September 03, 2024
An acceptable diversion. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Suitable if your reading queue is empty.
Kimberly White
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Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
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Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend.
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
Melissa King
Melissa King February 08, 2024
An acceptable diversion. The prose was competent, yet the characters lacked the depth I usually seek. Perhaps more aligned with a different audience's tastes.
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Ashley Collins August 01, 2024
Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
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Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
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Barbara Phillips May 09, 2025
A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me.
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A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
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Robert Perez June 05, 2024
A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A very distinguished novel.
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Joseph Williams May 03, 2024
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
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Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
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A decent, if standard, experience. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perhaps more aligned with a different audience's tastes.
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I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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An acceptable diversion. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
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I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me.
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A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me.
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Donald Clark
Donald Clark July 12, 2024
I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
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Not entirely to my refined tastes. The prose was competent, yet the characters lacked the depth I usually seek. Unlikely to reread, but a reasonable expenditure of time.
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I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend.
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Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
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A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
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Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
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Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
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Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading.
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Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
Lisa Harris
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Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
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Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
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Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
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Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
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Emily Nguyen
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
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I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
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Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
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Lisa Campbell
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Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
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Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
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Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
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Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
Brian Reyes
Brian Reyes October 12, 2024
Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Elizabeth Smith
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I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
Brian Jones
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Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
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Jessica Jones
Jessica Jones April 30, 2025
Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
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A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
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A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me.
Rebecca Hall
Rebecca Hall February 11, 2024
Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
Thomas Reyes
Thomas Reyes February 02, 2024
Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. Quite impressive overall.
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A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me.
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Ryan Rivera December 21, 2025
Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Cynthia Roberts
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Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
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Jacob Thomas April 26, 2025
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A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading.
Karen Phillips
Karen Phillips October 30, 2025
Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers.
Carol Thomas
Carol Thomas November 04, 2024
Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author.
James Lopez
James Lopez June 01, 2025
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
Barbara Scott
Barbara Scott February 09, 2024
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Deborah Roberts
Deborah Roberts December 18, 2024
Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
Donna Flores
Donna Flores November 30, 2024
Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
Betty Gomez
Betty Gomez August 25, 2024
I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me.
Steven Carter
Steven Carter January 12, 2024
A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Michael  Parker
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Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
Susan Lopez
Susan Lopez November 22, 2024
Not entirely to my refined tastes. Certain acts were fascinating, while others felt like a slight endeavor to complete. A fair 3 stars.
Edward Hernandez
Edward Hernandez May 24, 2025
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Ryan Green
Ryan Green October 07, 2025
Not entirely to my refined tastes. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. A fair 3 stars.
Emily Anderson
Emily Anderson October 20, 2024
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
Barbara Torres
Barbara Torres March 20, 2024
Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading.
Margaret Lewis
Margaret Lewis February 12, 2024
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Michelle Miller
Michelle Miller August 29, 2025
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre.
Patricia Campbell
Patricia Campbell October 01, 2024
Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
Karen Green
Karen Green June 30, 2024
Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Deborah King
Deborah King July 16, 2025
I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
Susan Miller
Susan Miller January 26, 2024
I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Jessica Anderson
Jessica Anderson February 06, 2025
Excellent, though slightly flawed. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
Andrew Taylor
Andrew Taylor January 31, 2024
Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading.
John Rivera
John Rivera August 07, 2025
Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
Margaret Wilson
Margaret Wilson March 15, 2024
A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
Jennifer Wright
Jennifer Wright December 20, 2025
It was adequate. Certain acts were fascinating, while others felt like a slight endeavor to complete. Perfectly average.
George Evans
George Evans October 22, 2024
Excellent, though slightly flawed. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
Kevin Nguyen
Kevin Nguyen August 16, 2025
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars.
Mark Hall
Mark Hall June 01, 2024
I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me.
Brian Smith
Brian Smith June 04, 2024
Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
Donald Clark
Donald Clark May 25, 2025
It was adequate. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
Sarah Ramirez
Sarah Ramirez April 14, 2024
I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
Andrew Taylor
Andrew Taylor July 23, 2025
Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Ashley Wilson
Ashley Wilson March 08, 2024
Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
Steven  Davis
Steven Davis November 29, 2025
A very strong entry. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers.
Richard Gomez
Richard Gomez January 15, 2025
A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Jennifer Nelson
Jennifer Nelson September 08, 2025
Not entirely to my refined tastes. Certain acts were fascinating, while others felt like a slight endeavor to complete. Unlikely to reread, but a reasonable expenditure of time.
Andrew Carter
Andrew Carter April 28, 2025
Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
Nicholas Baker
Nicholas Baker February 13, 2024
Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers.
Karen Jackson
Karen Jackson July 29, 2024
I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
Nicholas Reyes
Nicholas Reyes December 16, 2025
Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars.
Paul Hernandez
Paul Hernandez October 01, 2025
A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
Anthony Robinson
Anthony Robinson May 16, 2024
A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Stephanie Gonzalez
Stephanie Gonzalez March 12, 2024
A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel.
Barbara Lewis
Barbara Lewis May 21, 2024
A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
Jennifer King
Jennifer King February 03, 2024
Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me.
Daniel Hill
Daniel Hill September 21, 2025
Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Nancy Lopez
Nancy Lopez July 06, 2025
A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars.
Cynthia Ramirez
Cynthia Ramirez October 06, 2025
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me.
Daniel Hill
Daniel Hill September 12, 2025
Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
Brian Reyes
Brian Reyes August 22, 2025
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
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