|
DSpace - Tor Vergata >
Facoltà di Economia >
CEIS - Centre for International Studies on Economic Growth >
Quaderni >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/2108/174
|
| Title: | Can we beat the dow? The mirage of growth strategies |
| Authors: | Becchetti, Leonardo
Marini, Giancarlo |
| Issue Date: | Jan-2002 |
| Publisher: | CEIS |
| Series/Report no.: | Quaderni CEIS; 156 |
| Abstract: | This paper implements the traditional contrarian strategy literature by testing the significance of value and growth portfolios formed on deviations between observed and discounted cash flow fundamental stock values. Our findings on the 30 stocks of the Dow show that growth portfolios significantly outperform buy and hold strategies on the Index. Arbitrage opportunities, however, disappear when the index is corrected for the survivorship bias. Hence, growth strategies may have been profitable only for those agents capable to pick winners with foresight. |
| URI: | http://hdl.handle.net/2108/174 |
| Appears in Collections: | Quaderni
|
Files in This Item:
| File |
Description |
Size | Format |
|---|
| 156.pdf | | 160Kb | Adobe PDF | View/Open |
|
Show full item record
All items in DSpace are protected by copyright, with all rights reserved.
|
