The relationship between style indices

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dc.contributor.author Flemmer, Anthony
dc.date.accessioned 2011-04-12T13:06:09Z
dc.date.available 2011-04-12T13:06:09Z
dc.date.issued 2011-04-12
dc.identifier.uri http://hdl.handle.net/10539/9416
dc.description MBA - WBS en_US
dc.description.abstract Style indices can be created for any investment style by calculating the weighted average performance of the shares that form part of a particular style, be these value, growth, large, small, etcetera. This study investigated the relationship between such indices and their underlying shares. The strength and persistence of the relationship between style indices and their underlying shares over a period was determined. The predictive power of these indices in selecting shares for a portfolio was established. This research suggested that the JSE Securities Exchange does not constitute a strong form of Efficient Market Hypothesis and therefore it is possible to exploit these inefficiencies. It also highlighted the fact that the market has not become more efficient in recent years and thus knowledgeable investors can continue to exploit it. The research has shown that style indices can be used as lead indicators for share selection on the JSE Securities Exchange. Investors are recommended to use style indices to help inform them when making investment decisions. en_US
dc.language.iso en en_US
dc.subject Style indices en_US
dc.subject Johannesburg Securities Exchange en_US
dc.subject Shares en_US
dc.title The relationship between style indices en_US
dc.type Thesis en_US


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