We study the portfolio performance of investment strategies that jointly apply both fundamental analysis and technical analysis. Compared with strategies that rely on one-dimensional fundamental or technical information, the integrated approach to fundamental and technical investing...

DeMiguel, Garlappi, and Uppal (DGU, 2009) evaluate 14 models of optimal asset allocation and find that none can consistently outperform the 1/N naive diversification strategy, which highlights estimation-risk concerns. Building from Stevens (1998), we provide a useful dichotomous classification...