allen Märkten und über fast jeden Zeitraum andere Aktien.
Jetzt muss man nur noch genau definieren, was unter "High Quality" zu verstehen ist :-)
It sounds ridiculous — something pitched by a charlatan or a huckster offering a dubious advisory service. But according to new research it might be reality.
Five independent stock-market experts, including three hedge-fund managers, and two business-school professors, have just published the first draft of an absolutely fascinating research paper that may turn out to be pure gold for ordinary investors (or, given the disastrous performance of gold bullion recently, better than gold).
“Size Matters, If You Control for Junk” has been written by Cliff Asness, Andrea Frazzini and Ronan Israel of AQR Capital, a Greenwich, Conn.,-based hedge-fund company; Tobias Moskowitz, a professor at the University of Chicago’s Booth School of Business; and Lasse Pederson at the Copenhagen School of Business in Denmark.
They’ve conducted fresh analyses of over 50 years of U.S. stock market data, and over 30 years of data for overseas stock markets, and they’ve reached a startlingly simple conclusion.
If you had wanted to beat pretty much any stock market over time, at any point, all you had to do was buy the stocks of companies that were both small and “high quality” when measured by things like balance-sheet strength, profitability, stability and growth.
Indeed, according to their analysis, the broad portfolio of such “small cap, high quality” stocks have beaten the overall market by just under five percentage points a year — which, for the uninitiated, is an absolutely stunning performance.
www.marketwatch.com/story/...teid=bigcharts&dist=bigcharts
Ich bin nicht nachtragend, vergesse aber nichts(H. Wehner)