Multiple outlets present commentary on how different investment styles perform for retail investors. The focus is on “momentum investing,” which seeks to buy assets that have recently been performing well and can create the perception that current winners will keep outperforming. In contrast, “contra investing” targets sectors or assets that have fallen out of favour, aiming to benefit from potential mean reversion or future improvement. The articles cite finance professional Kirtan Shah, who argues that retail investors tend to lose more money with momentum strategies. The reasoning presented is that chasing recent gains can expose investors to sharp reversals when momentum fades, particularly for individuals who may not have the tools or time to monitor changing market conditions. The commentary also implicitly contrasts this with the alternative approach of buying out-of-favour assets, which may carry different timing and risk characteristics. Overall, the sources frame the issue as a suitability and risk-management question for retail investors rather than a definitive claim about which style always outperforms in all markets.