Academic-Style Research
Lower Paybacks Show Higher Future Return
We set out to investigate if companies that pay back a large share of their earnings or cash flows have a strong share price performance. Our results show that a lower Paybacks-to-FCF resulted in a higher forward one-year return.
Read MoreThe Buffett Indicator Reveals Potential Opportunities in Asia
“It is probably the best single measure of where valuations stand at any given moment,” said Warren Buffett. We put it to test to see if it actually works and if it works outside the US.
Read MoreBuy and Hold Is Boring but Solid
Behavioral economics teaches us that our emotions play a major part in our trading. This A. Stotz academic-style research answers the question: What would the impact on terminal wealth be if an investor missed the 10 best or 10 worst return days in the global stock market over a 10-year period?
Read MoreIs There a Value Premium?
Since 1994, most regions and Asian markets have had a value premium. However, in the past 10 years, we’ve seen an extraordinary bull market where growth has beaten value in most periods. Might be time for value to start outperforming.
Read MoreCan You Profit from Following Analysts in Thailand?
A core function of sell-side analysts is to provide earnings estimates, target prices, and recommendations. Investors often rely on this information to make investment decisions. No one is always right but analysts as a group—consensus—should be quite smart.
Read MoreFVMR Was the Best Investment Strategy for a Global Universe
In this Academic-Style Research we gearing on a global universe. We then tested to combine Fundamentals, Valuation, Momentum, and Risk factors into FVMR.
Read MoreCan a Price Momentum Strategy Generate Abnormal Returns?
In this Academic-Style Research we tested three-month price momentum on a global universe. We then tested to combine Fundamentals, Valuation, and Momentum.
Read MoreCan You Beat the Market by Investing in Low PE Stocks?
In this Academic-Style Research we tested a valuation factor, low PE, on a global universe. We then tested to combine this factor with a Fundamental factor, high improvement in asset turnover.
Read MoreCan Change in Asset Turnover Predict Future Return?
In this Academic-Style Research we tested a fundamental factor, change in asset turnover, on a global universe of stocks. Asset turnover is a measure of efficiency, the ratio analyzes how efficient a company is in the use of its assets.
Read MoreHigh Profitable Growth Companies Saw Value Gains of ~10x the Market
A portfolio of high Profitable Growth companies outperformed the general stock market by 9x over the past 20 years. A portfolio of high Profitable Growth companies yielded the highest coincident return of 19% per year on average.
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