Link to Article - Authors: Callahan and Howard
- Publication: Investment Advisor
- Publication Date: January 2006
- Intro: In the September 2005 Investment Advisor, we showed that investing constrained by characteristics (value-growth and market capitalization) costs investors almost 300 basis points per year in performance. Requiring managers to hold stocks that are limited to certain value-growth and market capitalization characteristics hurts performance because all of the manager’s best stock selections do not necessarily fit into that assigned box.
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