Writing in New York magazine, Sheelah Kolhatkar asks an intriguing question:

[The] investment-management company Vanguard released data showing that men were more likely than women to sell stocks at the bottom of the market. Could it be that the fairer sex is better able to ride the ups and downs of Wall Street without letting their emotions get in the way?

a. What is “the bottom of the market”?

b. Is selling stocks at the bottom of the market a good idea or a bad idea? Briefly explain.

c. If “a bad idea” is the answer to (b), is that behavior consistent with the efficient markets hypothesis? Briefly explain.