They refer to the bottom portfolio — which contains the stocks with the highest book-to-market — as the extreme value portfolio.
Our results indicate that returns monotonically increase as book to market increases, with the exception of returns associated with the highest book-to-market group, which are lower than the second-highest book-to-market group.
We then studied U.S.-listed stocks after 2008 and again for each year we identified stocks with the highest book-to-market ratios, the largest momentum, and the smallest market capitalizations.
For each of these years, we identified stocks with (1) the highest book-to-market ratios, (2) the largest momentum, and (3) the smallest market capitalizations, and then in the subsequent year, we looked at the alpha of these stocks.
— Jenna Wortham Pushing for Higher Book Prices Businessweek.com | France has a problem with Amazon's free shipping.
Students like Ms. Thompson, meanwhile, are finding their own ways around high book costs.
Random House is worried consumers will balk at high book prices and turn to piracy instead.
Most recently, she stocked a waist-high book rack inside Dio, a woman-owned wine bar on H Street NE.
Despite the borrowed Suburban's being older, the N.C.A.A. determined that it had a higher book value.
Any writer will tell you that an appearance on Oprah is the fast-track to high book sales.
So this portfolio goes long stocks with a high book value, relative to their market cap, and short companies with a low book value.
