Complex sentence: The phrase, traditionaly used by traders and market commentators, has become a topic of economic research about investor irrationalities (cognitive and emotional biases) which effects on market prices and returns contradict, or at least moderate, the efficient market hypothesis.
Split into simpler sentences: The phrase, traditionaly used by traders and market commentators, has become a topic of economic research about investor irrationalities (cognitive and emotional biases). Its effects on market prices and returns contradict, or at least moderate, the efficient market hypothesis.