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* Clairvoyant Value and the Value Effect by Robert Arnott, Feifei Li and Katrina Sherrerd, Journal of Portfolio Management, Spring 2009, Volume 35 Number 3.
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As to the discount rate, we can use either the return from the overall market or that return suitably adjusted for a stock's volatility (its beta).The result of the work is that the market paid on average a 50% premium for growth stocks, relative to value stocks, than a clairvoyant investor would have been willing to pay.
As we can see, the performance of Λ LTD ‐ CML ‐ MoM, Λ LTD ‐ CML ‐ WMoM, and Λ ANMF ‐ C ‐ Tyler are close to that of the clairvoyant detector ΛLTD, while Λ Kelly ' s GLRT undergoes some detection loss for relatively low value of the P FA.
I'm clairvoyant.
"I'm not clairvoyant.
He's not clairvoyant.
The clairvoyant picked me.
Tonight, both decisions proved clairvoyant.
Here the magazine was clairvoyant.
Why were we not clairvoyant?
Fashion designers now seem clairvoyant.
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CEO of Professional Science Editing for Scientists @ prosciediting.com