, and expected growth, is a good start to understanding Graham and Dodd's (1934) Security Analysis. Empirically, the q^5 … model goes a long way toward explaining prominent equity strategies rooted in security analysis, including Frankel and Lee …'s (1998) intrinsic-to-market value, Piotroski's (2000) fundamental score, Greenblatt's (2005) "magic formula," Asness …