Hart, J. van der

strategy stock return portfolio earning market revision earnings revisions value momentum portfolio formation month selection stock selection strategies value stocks growth bottom formation analyst country journal table explanation forecast result finance b /m strategy period selection strategies momentum strategies sample percent earnings revisions strategy evidence bottom portfolios factor index e /p strategy earnings growth winners portfolio value strategies bottom portfolio market risk winner earnings forecast errors figure investor bekaert earnings revisions strategies earnings forecasts report number stock selection country selection profitability transaction costs harvey difference performance momentum strategy rouwenhorst error ratio liquidity percentage t-statistic lakonishok growth stocks equity market capitalization section model 6 mr strategy universe multivariate overreaction return reversal jegadeesh turnover ratio e /p book-to-market