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An Analysis of Portfolio Accumulation Strategies Employing Low-Priced Common Stocks

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  • Pinches, George E.
  • Simon, Gary M.

Abstract

The recent studies of Fisher and Lorie [10 and 11], Brigham and Pappas [2], and others have contributed significantly to our knowledge about overall rates of returns on common stocks. There is, in addition, a growing body of empirical evidence investigating the performance of alternative portfolio maintenance strategies [4, 8, 9, and 13]. However, to date, this evidence for rates of return under alternative portfolio strategies has been obtained for a “one-time” investment decision (with allowances for reinvestment of dividends and possible intraportfolio reallocation). In this paper the effects of alternative portfolio accumulation strategies on subsequent portfolio rates of returns are examined.

Suggested Citation

  • Pinches, George E. & Simon, Gary M., 1972. "An Analysis of Portfolio Accumulation Strategies Employing Low-Priced Common Stocks," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 7(3), pages 1773-1796, June.
    • Handle: RePEc:cup:jfinqa:v:7:y:1972:i:03:p:1773-1796_01
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    Cited by:

    1. Huizheng Liu & Xinyao Han & Jiaqi Zhou & Yidan Ma & Hang Yin, 2023. "An Empirical Study on the Premium of Low-Priced Stocks in China's A-Share Market," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 13(6), pages 1-1.
    2. Khan, Muhammad Irfan, 2009. "Price Earning Ratio and Market to Book Ratio," MPRA Paper 23969, University Library of Munich, Germany.
    3. Adam Zaremba & Rados³aw ¯mudziñski, 2014. "The Low Price Effect On The Polish Market," "e-Finanse", University of Information Technology and Management, Institute of Financial Research and Analysis, vol. 10(1), pages 69-85, June.
    4. Adam Zaremba & Jacob Koby Shemer, 2018. "Price-Based Investment Strategies," Springer Books, Springer, number 978-3-319-91530-2, December.
    5. Tristan Roger & Wael Bousselmi & Patrick Roger & Marc Willinger, 2018. "Another law of small numbers: patterns of trading prices in experimental markets," Working Papers hal-01954921, HAL.
    6. Sonntag, Dominik, 2018. "Die Theorie der fairen geometrischen Rendite [The Theory of Fair Geometric Returns]," MPRA Paper 87082, University Library of Munich, Germany.

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