The evidence suggests that the market does not fully incorporate historical financial information into prices in a timely manner.

—Dr. Joseph Piotroski

If you landed here at the beginning of our systems chapters without reading the foregoing chapters, I’d like to kindly ask you to consider going back and reading at least Chapters 4 through 6. I can’t fault you for jumping ahead; I do that myself with most books. But in this case, you may be setting yourself up for some confusion if you don’t know about the tools described in Chapter 4 that are needed to trade these systems, and with which familiarity will be assumed in what follows. What’s worse, without exposure to my cautionary notes in Chapter 5 and practical ...

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