In the broader term yes.If you wish to follow momentum and reap rewards, I highly recommend you to read the research paper by Jagadish and Titman. A well-constructed small-cap momentum portfolio can indeed outperform the Nifty 250 Smallcap Index in a bull market, leveraging the natural momentum effect and the higher growth potential of small-cap stocks. It is crucial to manage this portfolio with disciplined rebalancing and a keen eye on transaction costs to ensure that the benefits of momentum investing are fully realized.For further reading and to explore empirical studies, you might consider sources like “Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency” by Jegadeesh and Titman (1993) and “Value and Momentum Everywhere” by Asness, Moskowitz, and Pedersen (2013).
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