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Chapter 10. Analysis Tool #7: Financial ... > Detailed Fiscal Fitness Exam

Detailed Fiscal Fitness Exam

A landmark study done in the early 1990s showed that value-priced stocks outperform growth stocks. More recently, Joseph Piotroski, an accounting professor at the University of Chicago business school, took another look at the study.

He found that although the value portfolio outperformed the growth portfolio, a few outperformers skewed the portfolio returns. In fact, more value stocks underperformed the market than outperformed.


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