The Closing Tens Digit, from Victor Niederhoffer

2009-12-04 · Victor Niederhoffer
Original source

It is interesting to contemplate the closing tens digit of the S&P over the last three years. For example, the tens digit of 1075 is 7 and of 1103 is 0.

last digit      # of observations

0                      73

1                      64

2                      67

3                      76

4                      67

5                      79

6                      74

7                      65

8                      73

9                      59

The average of 70. Standard error about 4.4. Tendency to avoid the neighbors of Mr. Round.