Abstract

http://ssrn.com/abstract=980690
 


 



Are Cover Stories Effective Contrarian Indicators?


Tom Arnold


University of Richmond - E. Claiborne Robins School of Business

John H. Earl


University of Richmond - E. Claiborne Robins School of Business

David S. North


University of Richmond - E. Claiborne Robins School of Business


Financial Analysts Journal, Vol. 63, No. 2, pp. 70-75, 2007

Abstract:     
Headlines from featured stories in Business Week, Fortune, and Forbes were collected for a 20-year period to determine whether positive stories are associated with superior future performance and negative stories are associated with inferior future performance for the featured company. "Superior" and "inferior" were determined in comparison with an index or another company in the same industry and of the same size. Statistical testing implied that positive stories generally indicate the end of superior performance and negative news generally indicates the end of poor performance.

Keywords: Equity Investments, Fundamental Analysis and Valuation Models, Research Sources

Accepted Paper Series


Not Available For Download

Date posted: April 20, 2007  

Suggested Citation

Arnold, Tom and Earl, John H. and North, David S., Are Cover Stories Effective Contrarian Indicators?. Financial Analysts Journal, Vol. 63, No. 2, pp. 70-75, 2007. Available at SSRN: http://ssrn.com/abstract=980690

Contact Information

Thomas M. Arnold (Contact Author)
University of Richmond - E. Claiborne Robins School of Business ( email )
1 Gateway Drive
Richmond, VA 23173
United States
804-287-6399 (Phone)
804-289-8878 (Fax)
John H. Earl
University of Richmond - E. Claiborne Robins School of Business ( email )
Richmond, VA 23173
United States
David S. North
University of Richmond - E. Claiborne Robins School of Business ( email )
1 Gateway Drive
Richmond, VA 23173
United States
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