Big fish, little fish

Interesting article about what time of the month money managers often buy (link).

GM General Motors again under 30 after Kerkorian unloads another batch of stock. This kind of situation is akin to the little fish, with the big fish Kerkorian dictating the movement of the stock with his moves and leaks. The above article is when little fish can get in ahead of the big fish. The big fish has to come in and buy, that is their directive. What might change is that patterns become known and the big fish changes their buying patterns.

In an efficient market all information flows freely and there is no advantage. However, the real market is never quite 100% efficient and some patterns such as the monthly buying patterns, and others often persist for long periods of time.