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Congressional trading data: double shock
Check out the remarkable performance from Hon. Brian Mast--completely destroyed the S&P during the period under analysis.

Yet, IMHO, the quantitative behavioral insights are even more shocking:

Massive alpha was destroyed by active management bias known as the Disposition Effect–936% cumulative, 131% CAGR!

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Clarification about the table below: “DE Backtest” is a counterfactual metric quantifying what performance would have been with better holding periods for winning and losing positions.
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