In 1994, Josef Lakonishok, Andrei Shleifer, and Robert Vishny published a landmark study investigating the performance of value stocks relative to that of glamour securities in the United States over a 26-year period. Their research concluded that value stocks tended to outperform glamour stocks...

Previous research by the Brandes Institute has shown the historical long-term performance advantage of value stocks over glamour stocks. What about corporate bonds? Here, we show that bonds issued by value companies have provided greater appreciation than those issued by glamour companies

In Value vs. Glamour: The Challenge of Expectations, the Brandes Institute examines the historical performance of individual glamour and value stocks. We believe this performance data demonstrates why investors should be cognizant of the relationship between stock price and value. The specific...

The Brandes Institute extends a landmark academic study on the comparative performance of value and glamour stocks in the United States to cover a 38-year period. Extending the results of the seminal 1994 study conducted by Professors Josef Lakonishok, Andrei Shleifer, and Robert Vishny, we...

Now updated through 2006, this article illustrate the potential for periods of short-term underperformance may be one of the few certainties that investors can count on. Our research focuses on the performance results of non-U.S. mutual funds over the last decade. Observations suggest that...

The small-cap premium has not been apparent consistently in developed markets outside North America since 1989. Why? In this comprehensive study, the Brandes Institute investigates existing methodologies for defining the global small-cap universe and their relationship to performance. We also...

Increasing interest in liability-driven investing (LDI) in the pension community has prompted many plan sponsors to seek longer-duration investments. Historically, empirical evidence has guided plan structures toward long-duration bonds as an appropriate liability-matching instrument, citing...

In previous research, Global Small-Cap Stocks: Reexamined and Redefined, the Brandes Institute found divergent construction methodologies among global small-cap index providers and introduced a custom series of country and regional small-cap universes to explore detailed historical fundamental...

The Brandes Institute's Value vs. Glamour research has demonstrated the persistent outperformance of value stocks over glamour stocks in developed markets worldwide over long time periods. Investors may wonder if the value premium is also evident in developing countries. In this article, we...

Previous research by the Brandes Institute documented the opportunities available by investing in falling knives (securities whose prices have fallen sharply). Now, in new research on this topic, we investigated the relationship between bond and equity prices in this context. Specifically, we...