Research on modified investment strategy of Buffett

• Main Authors: Chiu,Yi-Chang, 邱奕彰
• Other Authors: Wen,Fur-Hsing
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/17109251802360771391

碩士 === 東吳大學 === 國際經營與貿易學系 === 104 === This study is to prove whether the portfolio selection of modified investment strategy of Buffet is better than rate of return in stock market or not. Rate of return in stock market that can be presented by Taiwan Top 50 ETF (stock symbol:0050) and the average ROR of Taiwan top 50 ETF constituent as comparison group. Empirical research period is from 2009 to 2014 . Looking forward to that can make be more established through six-years empirical stock selection strategy. In this study, we can simply use five only items of financial report to select. It can not only keep the essence of Buffet's stock selection strategy but also analyze complicatedly without using too many financial items that can make flexible use in reality. Results show that modified Buffet strategy plus two strategies to limit the annual stock portfolios are superior to the rate of return of comparison group. This study also propose that we can use PBR to find reasonable stock price.