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Houge Value Stock Fund Study Cited

From 1965 through 2001, according to two finance professors -- TODD HOUGE of the University of Iowa and Timothy Loughran of Notre Dame -- the average value stock fund performed no better than the average growth stock fund. That tends to be the pattern over decades, but there are exceptions: Over the last three years, value stocks have significantly outperformed growth stocks, and the average value fund has beaten the average growth fund, but not in the most recent quarter. The paper is based in Californ

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