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Security Analysis: An Investment Perspective / Kewei Hou, Haitao Mo, Chen Xue, Lu Zhang.
- Format:
- Book
- Author/Creator:
- Hou, Kewei.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26060.
- NBER working paper series no. w26060
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Security Analysis
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- The investment theory, in which the expected return varies cross-sectionally with investment, expected profitability, and expected growth, is a good start to understanding Graham and Dodd's (1934) Security Analysis. Empirically, the q^5 model goes a long way toward explaining prominent equity strategies rooted in security analysis, including Frankel and Lee's (1998) intrinsic-to-market value, Piotroski's (2000) fundamental score, Greenblatt's (2005) "magic formula," Asness, Frazzini, and Pedersen's (2019) quality-minus-junk, Buffett's Berkshire, Bartram and Grinblatt's (2018) agnostic analysis, as well as Penman and Zhu's (2014, 2018) and Lewellen's (2015) expected-return strategies.
- Notes:
- Print version record
- July 2019.
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