Can the small investor beat the market by 'Dow investing'?

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Date

Authors

Wolmarans, H.P. (Hendrik Petrus)

Journal Title

Journal ISSN

Volume Title

Publisher

Investment Analysts Society of Southern Africa

Abstract

This study investigates the results of portfolios set up in accordance with a number of strategies which all require only a small number of shares. A comparison is done of strategies based on dividend yield on the one hand and on earnings yield on the other. A small number of shares are also selected from among numbers of large companies (20, 30, 40 or 50). A comparison is made with the returns achieved on the Industrial Index (INDI) and those achieved on the All Shares Index (ALSI) over the same period, before as well as after an adjustment for risk has been made.

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Keywords

Dow investing, Dow Jones Industrial Average (DJIA), Portfolio strategies, Risk-adjusted performance, Small investors, Risk management

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Citation

Wolmarans, HP 2001, 'Can the small investor beat the market by 'Dow investing'?', Investment Analysts Journal, vol. 53, pp. 41-51. [http://www.journals.co.za/ej/ejour_invest.html]