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Teaching Market Efficiency with the Value Line Anomaly

Journal of Financial Education, 1995, Vol. 21, Fall, pp. 44-48

15 Pages Posted: 20 Feb 2013  

James Felton

Central Michigan University - Department of Finance and Law

Date Written: August 1, 1993

Abstract

Value Line’s timeliness rankings for common stocks are the topic of much debate and research in finance journals. The interest stems from Value Line’s purported ability to select stocks that outperform the market, and such stock-selection success is considered anomalous to the market efficiency hypothesis. This paper reviews the literature involving the Value Line anomaly in order to provide finance professors with an interesting method of teaching some of the intricacies of the debate on the market efficiency hypothesis.

Keywords: Value Line, anomaly, market efficiency, timeliness rankings

JEL Classification: G11, G12, G14, G17

Suggested Citation

Felton, James, Teaching Market Efficiency with the Value Line Anomaly (August 1, 1993). Journal of Financial Education, 1995, Vol. 21, Fall, pp. 44-48. Available at SSRN: https://ssrn.com/abstract=2220378

James Felton (Contact Author)

Central Michigan University - Department of Finance and Law ( email )

332 Sloan Hall
Mount Pleasant, MI 48859
989-774-3269 (Phone)
989-774-6456 (Fax)

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