The Liquidity Style: Finding Bargains by Seeking Less Popular Stocks
Roger Ibbotson is chairman and CIO of Zebra Capital Management and a professor at the Yale School of Management. We spoke about his studies on the relationship of liquidity to returns. A copy of a recent paper he co-authored on the subject, “Liquidity as an Investment Style,” can be downloaded at http://mba.yale.edu/faculty/pdf/ibbotson_liquidity_as_an_investment_style.pdf.
—Charles Rotblut, CFA
Charles Rotblut (CR): I’d like to discuss your studies on liquidity as an investment style. Can you explain what liquidity is in terms of stocks and shares trading?
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