value investing
We backtested Greenblatt's Magic Formula on all US exchanges from 2000 to 2025 with next-day execution. The strategy returned 9.53% annually vs 8.02% for the S&P 500. Most of the alpha came from 2000-2013.
value investing
The Magic Formula returned 19.67% annually on B3-listed Brazilian stocks from 2000 to 2025. That's 10.72% annual excess return over the Bovespa. Only 1 cash period out of 103.
value investing
The Magic Formula adds value more broadly than we first thought. We ran Greenblatt's two-factor screen on 20 global exchanges from 2000 to 2025. With local benchmarks (Sensex for India, FTSE for the UK, DAX for Germany, KOSPI for Korea) instead of comparing everything against the S&
dividend investing
The Dogs of the Dow adapted for Sweden. Take the 30 largest STO stocks, buy the 10 highest-yielding. 9.6% CAGR over 25 years, +6.6% excess over the OMX Stockholm 30, 68% win rate against the local benchmark.
dividend investing
The Dogs of the Dow adapted for India. Take the 30 largest BSE stocks by market cap, buy the 10 highest-yielding. Over 25 years, this returned 14.8% annually, beating the Sensex by 3.4% with a 60% win rate.
dividend investing
We tested the Dogs of the Dow strategy on 14 global exchanges from 2000 to 2025. The strategy beat the S&P 500 in 5 of 14 markets. India and Sweden stood out. Japan beat the Nikkei but trailed SPY.
dividend investing
Buy the 10 highest-yielding Dow stocks every January. Hold for a year. Repeat. We tested 25 years of data. Dogs returned 10.2% vs 7.6% for the S&P 500. The real story is risk: Sharpe of 0.698 vs 0.322, max drawdown of -19.5% vs -34.9%.
asset growth
Asset Growth Anomaly on Swedish Stocks: 6.33% CAGR, Beating OMX Stockholm 30 by +3.78% Sweden punches above its weight in equity markets. A population of 10 million, but a stock exchange loaded with globally competitive companies across industrials, tech, healthcare, and consumer goods. We ran the same asset
asset growth
Switzerland's stock market has returned just 1.74% annually since 2000. That's not a typo. The SMI, one of the world's most recognized blue-chip indexes, compounded at less than 2% per year over a quarter century. We backtested the asset growth anomaly with quality
asset growth
We backtested the asset growth anomaly with quality filters on XETRA-listed German stocks from 2000 to 2025. The portfolio returned 6.39% annually vs 5.04% for the DAX. That's +1.35% annual excess return. The strategy wins 52% of years, beating the DAX in 13 of 25.
asset growth
Asset Growth Anomaly on Indian Stocks: 13.01% CAGR Over 20 Invested Years We backtested the asset growth anomaly with quality filters on NSE from 2000 to 2025. The portfolio returned 13.01% annually vs 12.06% for the Sensex. That +0.95% annual excess held up across India'
asset growth
Asset Growth Screen Tested on 16 Global Exchanges: Where Capital Discipline Pays Off We ran the same asset growth screen on 16 exchanges across 14 countries, covering 25 years of annual data. The CAGR spread is over 10 points, from 13.01% (India) down to 2.57% (Saudi Arabia). When