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Strategies & Market Trends : What Works on Wall Street (O'Shaugnessy) -- Ignore unavailable to you. Want to Upgrade?

To: Howard R. Hansen who wrote (68)	3/18/1998 5:06:00 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 109

Howard : Regarding the difference between what the book says and what the prospectus says ("earnings gains for 5 consecutive years" vs. "annual earnings that are higher than the previous year"), can you please find out if the return numbers in the book and the prospectus are different too? It is reasonable to infer that those numbers should be different as well. Otherwise there is something amiss. As for the requirement that says, "...historical trading volume sufficient to allow for the fund to purchase the required number of shares as of the Re-Balance Date", I am afraid that it is a requirement imposed by real-world considerations! :-( This is not a particularly serious handicap if the fund size remains small (and O'Shaughnessy is on record as saying that he will close it when it reaches $400 million in assets). I would watch out for the median market capitalization of the fund vs. that of the Russell 2000. As long as they are comparable, I think we should be fine as far as this requirement is concerned. Regards, Dipy.