Further Evidence on the Value of Professional Investment Research
14 Pages Posted: 3 May 2004 Last revised: 17 Jul 2010
Date Written: August 1980
This paper shall consider not only the potential for individual investors to exploit one of the major categories of professional investment advice to earn superior portfolio returns, but also will examine the actual return experiences of a representative sample of investors who were, in fact, observed to trade on such advice.
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