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Revision History For: What Works on Wall Street (O'Shaugnessy)

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I just finished reading James O'Shaugnessy's book, or should I say, just finished skimming. The book had a lot of common sense information in it. I'll *try* to tell you what it was about in 1 sentence: The book used 43 years ('52 to '94) of the Compustat database to test investment strategies. It gave Sharpe risk rankings for different methods and ended up saying that the strategy with the highest returns is the Cornerstone Growth Strategy used in combination with companies with a capitalization > $1 million. The book had a lot more to say than that -- it said that consistently using the same strategy is the only way to get consistent returns. I just wish he would tell the readers what high and low (PE, PSR, rel. str.) really are. It's a great book for anyone looking for consistent returns.