RT Journal Article SR Electronic T1 The Seasonal Price Behavior of Global Equity Markets JF The Journal of Investing FD Institutional Investor Journals SP 49 OP 53 DO 10.3905/joi.2003.319567 VO 12 IS 4 A1 A. Michael Keppler A1 Xing Hong Xue YR 2003 UL https://pm-research.com/content/12/4/49.abstract AB Global equity investors could achieve superior returns at lower risk during the months of November through April if they are able to move in and out of markets with no or low transaction costs and tax consequences. The seasonal price patterns described in this study may be generic rather than time-specific as long as the majority of the causes identified continue to apply.