The purpose of this study was to determine how effective technical attributes are from a portfolio management perspective. If we buy portfolios of high attribute stocks, do we outperform the market? Alternatively, what happens if we buy portfolios of low attribute stocks? What we found is high attribute portfolios have a strong propensity to outperform, with the largest outperformance reserved for the highest ratings (5 attribute stocks), while low attribute portfolios have a marked tendency to underperform under most market conditions.
 

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