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Investment: An A-Z Guide by Philip Ryland

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Odd-lot theory

The stockmarket application of the notion that if you do the opposite of what the dumbest person in town is doing, it is likely to be right. So when amateur investors who deal in odd lots (extremely small amounts of STOCK) buy, it is time to sell, and vice versa. The theory even devises its own index by expressing the ratio of odd-lot sales to odd-lot purchases. Research has shown that odd lotters are not quite as dumb as they are made out to be. Besides, the success of the MUTUAL FUND has undermined the theory because many small-time investors now make their stockmarket investments indirectly via this vehicle.

OEICS

See OPEN-ENDED INVESTMENT COMPANY.

OFEX

See PLUS MARKETS.

Offer price

The price at which ...

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