Here is a great research study on the merits of value investing. We've all heard that it outperforms in the long run, and there are numerous arguments that try to contradict this thesis. This study proves that value investing is a strategy that can be used to earn excess returns.
The study also shows that small caps outperform the others, which is a great area for individual investors as many large institutions are unable, due to regulations or asset size, to invest in them.
Tweedy, Browne Study
SG
Thursday, February 12, 2009
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