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Teaching Market Efficiency With The Value Line Anomaly

James Felton
Journal of Financial Education
Vol. 21 (FALL 1995), pp. 44-48
Stable URL: http://www.jstor.org/stable/41948183
Page Count: 5
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Teaching Market Efficiency With The Value Line Anomaly
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Abstract

Value Line's timeliness rankings for common stocks are the topic of much debate and research in finance journals. The interest stems from Value Line's purported ability to select stocks that outperform the market, and such stock-selection success is considered anomalous to the market efficiency hypothesis. This paper reviews the literature involving the Value Line anomaly in order to provide finance professors with an interesting method of teaching some of the intricacies of the debate on the market efficiency hypothesis.

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