Title: The Handbook of Equity Market Anomalies
Publisher: John Wiley and Sons Ltd
Book Condition: New
Presents academic research on how to beat the market using equity anomalies. This book addresses such anomalies as: the accrual anomaly, net stock anomalies, fundamental anomalies, estimate revisions, changes in and levels of broker recommendations, earnings-per-share surprises, insider trading, and several seasonal anomalies. Editor(s): Zacks, Leonard. Series: Wiley Finance. Num Pages: 352 pages, Illustrations. BIC Classification: KFFM. Category: (P) Professional & Vocational. Dimension: 153 x 237 x 29. Weight in Grams: 560. . 2011. 1st Edition. Hardcover. . . . . Bookseller Inventory # V9780470905906
Synopsis: Investment pioneer Len Zacks presents the latest academic research on how to beat the market using equity anomalies
The Handbook of Equity Market Anomalies organizes and summarizes research carried out by hundreds of finance and accounting professors over the last twenty years to identify and measure equity market inefficiencies and provides self-directed individual investors with a framework for incorporating the results of this research into their own investment processes. Edited by Len Zacks, CEO of Zacks Investment Research, and written by leading professors who have performed groundbreaking research on specific anomalies, this book succinctly summarizes the most important anomalies that savvy investors have used for decades to beat the market.
Some of the anomalies addressed include the accrual anomaly, net stock anomalies, fundamental anomalies, estimate revisions, changes in and levels of broker recommendations, earnings-per-share surprises, insider trading, price momentum and technical analysis, value and size anomalies, and several seasonal anomalies. This reliable resource also provides insights on how to best use the various anomalies in both market neutral and in long investor portfolios. A treasure trove of investment research and wisdom, the book will save you literally thousands of hours by distilling the essence of twenty years of academic research into eleven clear chapters and providing the framework and conviction to develop market-beating strategies.
As the founder of Zacks Investment Research, Len Zacks pioneered the concept of the earnings-per-share surprise in 1982 and developed the Zacks Rank, one of the first anomaly-based stock selection tools. Today, his firm manages U.S. equities for individual and institutional investors and provides investment software and investment data to all types of investors. Now, with his new book, he shows you what it takes to build a quant process to outperform an index based on academically documented market inefficiencies and anomalies.
From the Back Cover: Praise for The Handbook of Equity Market Anomalies
"Anomalies are characteristics of equities that might be used to get excess risk-adjusted returns. This volume explains anomalies that did work and some that savvy investors are using now." ?EDWARD O. THORP, founder, Edward O. Thorp & Associates
"If you are seeking Alpha, there is no better single source than The Handbook of Equity Market Anomalies." ?BLAIR HULL, founder, Hull Trading Company
"The book is a timely, thorough, and thoughtful survey of the vast finance and accounting academic literature on market anomalies?a must-read for academics, PhD students, and practitioners." ?STANIMIR MARKOV, Associate Professor of Accounting, The University of Texas at Dallas
"This compendium is extraordinarily thought-provoking. I am astonished by the breadth of its coverage." ? PROFESSOR ELROY DIMSON, London School of Business; coauthor of Triumph of the Optimists
"This guide to an enormous amount of research is a must for any investor attempting to exploit so-called anomalies in the stock market. The research leaves an open question: Are anomalous stock returns a 'free lunch,' easily exploited, or is the investor just loading up on risk? This handbook brings the research to life for the active investor and, by confronting this question, does so with the appropriate caution so that the investor has some sense of whether these anomalous returns can be earned in real time." ?Stephen Penman, George O. May Professor, Columbia Business School; and author of Accounting for Value
"In this handbook, seers of the profession provide a lucid, accessible summary of four decades of rigorous finance research on stock market anomalies to guide your investment strategies in search of alpha. I particularly like the authors' balanced treatment of the issues: while recognizing the competitive and challenging task of beating the market, they are able to explain which strategies might work and why. This is a must-read for any institutional or individual investor seeking to consistently outperform the market." ?S.P. Kothari, Deputy Dean and Gordon Y Billard Professor of Management, MIT Sloan School of Management
"This is an encyclopedic synopsis of academic research on stock return predictability. The reference lists alone are worth the price of admission. Remarkable in its ability to combine academic rigor with lucid prose, it is a treasure trove of ideas for serious investors. They wouldn't necessarily admit it, but many professional asset managers will be reading this book?and those not doing so, should be." ?Charles M. C. Lee, Joseph McDonald Professor of Accounting, Robert and Marilyn Jaedicke
Faculty Fellow for 2010-2011, Stanford University
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