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- Title
The `Dogs of the Dow' Myth.
- Authors
Hirschey, Mark
- Abstract
The "Dogs of the Dow" (or "Dow Dog') investment strategy, is a popular investment approach that promises huge abnormal returns for investors in the ten top yielding stocks from the Dow Jones Industrial Average (DJIA). However, periods of evident outperformance are balanced by periods of conspicuous underperformance. When strategy returns are adjusted for taxes and rebalancing costs, Dow Dogs perform in line with the DJIA over the 19611998 period. As a result, there is no robust evidence of an average return anomaly tied to Dow Dogs.
- Subjects
INVESTMENTS; MYTHOLOGY; DOW Jones industrial average
- Publication
Financial Review, 2000, Vol 35, Issue 2, p1
- ISSN
0732-8516
- Publication type
Article
- DOI
10.1111/j.1540-6288.2000.tb01411.x