Performance of Value Investors versus Technical Investors on the US Stock Market - by Xiangyu Wu
 
This thesis examines the relative effectiveness of value investing and technical analysis from 2012 to 2023. Using rigorous statistical methods, including ANOVA, t-tests, and CAPM-based analysis, the study explores whether value investors outperform technical investors and the S&P 500 index. While weak evidence suggests value investing yields higher returns, it is statistically significant that technical investing underperforms the market portfolio. This thesis provides valuable insights for investors and policymakers, contributing to the ongoing debate about effective investment strategies.