Characteristic-sorted portfolios are the workhorses of modern empirical finance, deployed widely to evaluate anomalies … assets. To illustrate the method we use it to evaluate the size, value and momentum anomalies …

anomalies; thus, its performance was not substantially different from modern markets. Also supporting the conclusion of market …

Anomalies are empirical results that seem to be inconsistent with maintained theories of asset-pricing behavior. They … are documented and analyzed in the academic literature, anomalies often seem to disappear, reverse, or attenuate. This … anomalies were simply statistical aberrations that attracted the attention of academics and practitioners. One of the …