Further more, in the cross-section; I get the conclusion that the stocks with big size, stocks with low turnover and stocks with high price can earn large abnormal momentum profit.
2
当前伯克希尔公司的股票交易值为账面价值的1.5倍,仅占整个美国证券市场平均市净率的三分之二。
Berkshire's shares currently trade at about 1.5 times book value, about two-thirds the average price-to-book multiple for the US stock market as a whole.