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Strategies & Market Trends : What Works on Wall Street (O'Shaugnessy)

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To: sea_biscuit who wrote (69)3/19/1998 1:00:00 PM
From: Howard R. Hansen  Read Replies (1) of 109
 
Dipy,

The performance numbers published in the prospectus for the Cornerstone Growth Fund are for the Cornerstone Strategy and for the corresponding years match the numbers published in "What works on Wall Street". Therefore the past performances numbers published in the prospectus are not for the strategy used by the Cornerstone Growth fund. The biggest difference between the fund and the book strategies is in the number of years of increasing earnings.

Of course the prospectus has some qualifications. Like -> "The performance of the Cornerstone Growth Strategy does not represent the performance of the Cornerstone Growth Fund, nor does it reflect the advisory fees, commissions, expenses or taxes the Fund Bears. The Strategy's performance would be lower if such fees and expenses were deducted. Past performance of the Cornerstone Growth Strategy is not predictive of future performance of the Strategy or the fund."

But irrespective of the qualifications the past performance of the strategy the Cornerstone Growth fund uses for a selling point is the strategy published in "What Works on Wall Street" not the past performance of the strategy the fund actually uses. Hence my original question still applies how does the past performance of the strategy the fund actually uses compare with the past performance of the Cornerstone Strategy published in "What Works on Wall Street"?
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