Market anomalies would not normally creep into a discussion between value investors but their existence demonstrates the possibility of making profits by understanding some market patterns which has been happening on a regular basis for a while. Even if you are a long-term investor, knowing these anomalies might assist you in deciding on a good time to buy a value stock. a) January effect  Stocks tend to have oversized returns in the month of January. This effect tends to work better for higher yielding stocks and worse for stocks of smaller companies. b) Turn of the month effect Returns tend to be oversized on the last day of the months to the third day of the following month. Explanation is that companies are eager to provide good news so it tends to happen earlier in the month. c) The Day of the Week Effect Mondays tend to be down days ......