In the long term, when choosing positive feedback strategy, we can obtain about 5% returns in excess of market average return.

而在长期采用动量策略，其年化超额收益率虽然较低，但也显著为正，并维持在5%左右。

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On the one hand, positive feedback trading strategy is applied in the previous high-returned stock;

一方面基金对前期高收益的股票采用正反馈交易策略；

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