Posts in Value Investing Research



















The Other Side of Value

February 19, 2011

The Other Side of Value Robert Novy-Marx A version of the paper can be found here. (sorry, I couldn’t find a free

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Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers

February 22, 2011

Discussion: In the academic literature, the highest book-to-market portfolio (value portfolio) has created controversy. On one hand, efficient market theorists believe the "value portfolio" outperforms the market because the portfolio is fundamentally riskier than the broader market. A pile of academic evidence suggests that this "market efficiency" hypothesis is correct.

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