"During the holy month of Ramadan, which starts next week, stock returns are almost nine times higher in predominately Muslim countries than during other times of the year, an indication that Ramadan positively affects investor psychology and leads to optimistic beliefs that extend to investment decisions, according to research from the University of New Hampshire. The mean annualized return realized by investors during the holy month was 38.09 percent, compared to a rather modest gain of 4.32 percent throughout the rest of he year, according to Ahmad Etebari, professor of finance and chair of the UNH Department of Accounting and Finance." http://scienceblog.com/37193/start-of-ramadan-could-signal-substantial-stock-gains/