tag:blogger.com,1999:blog-7294165939647321702.post1095889246062227284..comments2024-03-28T13:45:43.362-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: Value Investors Do Add ValueSaj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7294165939647321702.post-87073747716042365212009-09-25T21:35:48.573-04:002009-09-25T21:35:48.573-04:00I should say, at least the results of the study we...I should say, at least the results of the study we didn't lead us to reject the hypothesis that a value premium exists in doing the full valuation.<br /><br /><br />Reyer.Reyer Barelnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-84534038256435049492009-09-25T21:33:44.732-04:002009-09-25T21:33:44.732-04:00The study we did is quite different from what Drem...The study we did is quite different from what Dreman studied and to my understanding, unique in academia. Only our starting point had similarity to some of the other studies, since we filtered on low P/E, low P/B stocks.<br /><br />However, we proceeded to do full company valuations on those low P/E, low P/B stocks in order to be further selective about which companies to rate a buy. The valuation techniques we used were the ones taught by Prof. Athanassakos and require a solid understanding of accounting, finance and business. <br /><br />The purpose of the paper was to determine if a value premium exists for doing the full valuation vs. just the passive filters, and it does.<br /><br />cheers,<br />Reyer.Reyer Barelnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-63074087320115179222009-03-09T12:16:00.000-04:002009-03-09T12:16:00.000-04:00this sounds very similar to what David Dreman wrot...this sounds very similar to what David Dreman wrote in Contrarian Value Investing. He looked at low PE, low P/B, low P/dividends and one other one I cant remember.Anonymousnoreply@blogger.com