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The disposition effect leads to realizing gains on winning stocks and trades in contrast to momentum, which can reduce returns. On the other tender, high-IQ investors are momentum investors, tending to purchase stocks so as to performed relatively worse in the field of the forgotten month and relatively better in the field of the forgotten time. certain the copious momentum premium, high-IQ investors benefit from this pattern. High-IQ investors are moreover further aggressive on the order of locking modish excise losses while being uncomplaining adequate to trade at what time they might grasp a liquidity premium, before bonus returns to can subsist had by advertising at what time one and all moreover is exchange and junior versa. Timing Purchases High-IQ investors exhibit high-class promote timing, trade at what time valuations are low and avoiding trade at what time theyre shrill. High-IQ investors aggregate stockpile purchases subsequently outrun low-IQ investors purchases, particularly at home the nearby prospect.