I used Morningstar CPMS to back-test the strategy from May, 1992, to April, 2022, assuming an equally weighted 15 stock portfolio with no more than four stocks an economic sector. Once a month, stocks were sold if they fell below the top 35 per cent of the universe based on the above metrics, if any of the sector-relative valuation multiples exceeded 1.1 , or if dividend momentum turned negative.
This article does not constitute financial advice. Investors are encouraged to conduct their own independent research before purchasing any of the investments listed here.Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.
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