What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time

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November 11, 2011


Electronic book text, 432 pages

Other Formats


0071759190 / 9780071759199

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Main description

Historically tested long-term strategies that always outperform the market

"O'Shaughnessy's conclusion that some strategies do produce consistently strong results while others underperform could shake up the investment business." --Barron's

"What Works on Wall Street is indisputably a major contribution to empirical research on the behavior of common stocks in the United States. . . . Conceivably, the influence of What Works on Wall Street will prove immense." --The Financial Analysts' Journal

"O'Shaughnessy's latest, What Works on Wall Street, is a serious inquiry into the investment strategies that stand up under long-term scrutiny and is refreshing research for every investor." --Stocks and Commodities

"A bible for investment strategies. . ." --Seeking Alpha

About the Book:

Recent history has witnessed one of the worst stock market beatings ever. As a result, abysmal returns are being called "the new normal," financial "experts" are ringing the death knell of buy-and-hold, and investors' faith in equities has hit an all-time low. You have two choices. You can abandon the stock market based on what is happening today. Or you can invest today based on what will happen in the future.

Containing all new data, What Works on Wall Street, Fourth Edition, is the only investing guide that lets you see today's market in its proper context-- as part of the historical ebb and flow of the stock market. And when you see the data, you'll see there is no argument: Stocks work.

Now in its second decade of helping investors succeed with stocks, What Works on Wall Street continues to provide the most effective investing strategies, presenting incontrovertible data on what works and what doesn't. Updated with current statistics and brand-new features, What Works on Wall Street offers data on almost 90 years of market performance, including:

  • Stocks ranked by market capitalization
  • Price-to-earnings ratios
  • EBITDA to enterprise value
  • Price-to-cash flow, -sales, and -book ratios
  • Dividend, buyback, and shareholder yields
  • One-year earnings-per-share percentage changes

Providing you with unparalleled insights into stock performance going back to 1926, What Works on Wall Street is a refreshingly calming, objective view of a subject that is usually wrapped in drama, hyperbole, and opinions that are plain wrong.

This comprehensive guide provides the objective facts and winning strategies you need; all you have to do is make the decision to ignore the so-called market experts and rely on the long-proven approach that has made What Works on Wall Street an investing classic.

Table of contents

(Based on the Third Edition):
Chapter 1. Stock Investment Strategies; Chapter 2. The Unreliable Experts; Chapter 3. Rules of the Game; Chapter 4. Ranking Stocks by Market Cap; Chapter 5. Price-to-Earnings Ratios; Chapter 6. Price-to-book Ratios; Chapter 7. Price-to-Cashflow Ratios; Chapter 8. Price-to-Sales Ratios; Chapter 9. Dividend Yields; Chapter 10. The Value of Value Factors; Chapter 11. Do High Earnings Gains Mean High Performance; Chapter 12. Fire Year EPS Percentage Changes; Chapter 13. Profit Margins; Chapter 14. Return on Equity; Chapter 15. Relative Price Strength; Chapter 16. Using Multifactor Models to Improve Performance; Chapter 17. Dissecting the Market Leaders Universe; Chapter 18. Dissecting the Small Stock Universe; Chapter 19. Searching for the Ideal Value Stock Investment Strategy; Chapter 20. Searching for the Ideal Growth Strategy; Chapter 21. Uniting Strategies for the Best Risk-Adjusted Performance; Chapter 22. New Research Initiatives; Chapter 23. Ranking the Strategies; Chapter 24. Getting the Most Out of Your Equity Investments

Author comments

James O'Shaughnessy is Chairman and CEO of O'Shaughnessy Asset Management. In his 1996 bestseller, What Works on Wall Street, he revolutionized investment strategy with groundbreaking research. Since then, he has written three more books: How to Retire Rich, Invest Like the Best, and, most recently, Predicting the Markets of Tomorrow: A Contrarian Investment Strategy for the Next Twenty Years.

Copyright 2014 McGraw-Hill Global Education Holdings, LLC


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