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Unpacking Value Stock Investing and Academic Strategies
Exploring the intricacies of calculating returns on value stocks since 1926, examining the impact of dataset construction decisions, consistency in market data changes favoring specific factors, and the debate around passive vs. active investment strategies. Discussing Dimensional Fund Advisors' investment approaches, fees, and challenges, including criticisms on data transparency and response to industry critiques. Delving into statistical significance, p-hacking, and unintentional biases in financial research outcomes, referencing influential statisticians like Drew Gellman and recent studies on arbitrary decisions' effects on research.