Introduction -- 1. Investing 1.0 — Blind Faith and Speculation -- 2. Investing 2.0 — Intrinsic Value -- 3. Investing 3.0 — Measuring Risk -- 4. Investing 4.0 — Efficient Markets and Indexing -- 5. Investing 5.0 — Factor Models and Algorithms -- 6. Investing 6.0 — Real Value and Real...

Recent empirical evidence suggests that value and momentum strategies generate significantexcess returns in emerging markets. We confirm these results and extend them in severaldirections. First, we examine a broader range of stock selection strategies, including strategiesbased on analysts'...