Can you please explain what Prof said about buying at a lower book value and
then subsequent investments made at back value through retention of earnings.
Not exact matches
Consider selling shares on the first round, and
then selling incrementally more shares of your ownership in all
subsequent rounds of
investment.
DeBondt and Thaler
then calculated the
investment return against the equal weighted NYSE Index over the
subsequent four years for all of the stocks in each selection period.
Except with respect to limitations on borrowing and futures and option contracts, any
subsequent change in total assets or net assets or other circumstances does not require a fund to sell an
investment if it could not
then make the same
investment.
Thus, any
subsequent change in values, net assets or other circumstances does not require the fund to sell an
investment if it could not
then make the same
investment.