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"We have a value bias," Mr. Beyer said.
They represent a disciplined way of exploiting the value bias in the markets.
"There's a value bias in our fund," said Stephen Dean, a portfolio manager for the fund, which is based in Orinda, Calif.
The resulting index does have a value bias but it also tends to underweight the most fashionable stocks, and in the long run this boosts returns.
The outperformance is probably down to the "value" bias of the fundamental approach buying stocks (or bonds) that look cheap on traditional valuation criteria and underweighting the most expensive.
Van Horn's picks were helped by his value bias, as value has been in favor of late.
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Individual laboratory D/L value biases of 10 30% or more when compared to the consensus values are not uncommon.
Kumar and Bjorn-Andersen (1990) state that information systems "have built-in value biases reflecting the value priorities of the culture in which they are developed" (p. 535).
And it is seen from Table 5 that two iterations are needed to obtain the correct result of seven parameters regardless of slightly biased initial value, biased one or seriously biased one.
Monitor values of arterial oxygen tension overestimated laboratory values (bias = + 43.5 mm Hg), but the laboratory reference method likely underestimated true arterial oxygen tension in the high range achieved on bypass.
When assessing agreement between PaCO2 and EtCO2 absolute values, bias was 14.7 mmHg and the limits of agreement were −6.6 and 36.1 mmHg (Figure 4).
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CEO of Professional Science Editing for Scientists @ prosciediting.com