The reason for value's outperformance is simply due to the fact that the value portfolios bought more book
value per dollar invested: 4.3 x versus 0.25 x for the glamour portfolio.
Again, the value portfolios outperformed because they bought more book
value per dollar invested than the glamour portfolios: 4.57 x on average versus 0.25 x in the glamour portfolios.
Not exact matches
Investors must trust the agents of capital (i.e., executives) to focus on earning the highest return
per dollar invested, and thereby growing shareholder
value.
By 1991 investors who purchased City
Investing Liquidating Trust at inception had received several liquidating distributions with a combined
value of approximately nine
dollars per unit, or three times the September 1985 market price, with much of the
value received in the early years of the liquidation process.
The reason for
value's outperformance is simply due to the fact that the
value portfolios generated more cashflow
per dollar invested; 27.2 percent versus 4.3 percent for the glamour portfolio.