Audio Archives
Client Letters
OID Features Online
OID.com Exclusive
Features
Indexes:
Investors
Funds et al.
Companies &
Investments
Contact Us
About Your
User Name
& Password
Free Reprint
Online Excerpts
Investors in
Our Latest Edition
Companies &
Investments in
Our Latest Edition
About OID
Subscribe
Online Advertising
Online Classifieds
Employment
Opportunities
Portfolio Reports
Home Page
TWEEDY, BROWNE COMPANY L.P.
What Has Worked in Investing
(continued from preceding
page)
Mario Levis, Professor at The School of Management, University of Bath, United Kingdom and John Moxon examined the association between market capitalization and investment returns in the United Kingdom for the period 1956 through 1987. Each year, all companies registered on the London Stock market were ranked according to market capitalization and sorted into deciles. The average annual investment returns are presented below in Table 31:
Table 31:
Investment Returns by Market Capitalization Decile for All Stocks Registered on the London Stock Market, 1956-1987
|
Decile 1 (Smallest market cap companies) 2 3 4 5 6 7 8 9 10 (Largest market cap companies) |
Annual Return |
Capitalization of company in each group (£Millions) |
Small Capitalization Stocks in Canada
Angel Berges from Universidad de Madrid and John J. McConnell and Gary C. Schlarbaum from Purdue University examined the relationship between market capitalization and investment returns in Canada in "The Turn-of-the-Year in Canada," Journal of Finance, March 1984. Over the 1951 through 1980 period, 391 companies listed on the Toronto Stock Exchange or the Montreal Stock Exchange were ranked each year according to market capitalization and sorted into five equal number groups (quintiles).
Page 36 of 42
14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27
28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42
|
(Return to Table of Contents) |
(continue to the next page) |
©Copyright 1996-2008 Outstanding Investor Digest, Inc. All rights reserved.
295 Greenwich St., Box 282, New York, NY 10007 (212) 925-3885