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IN AN EARLIER ARTICLE' the investment profitability of groups of least popular common stocks were compared with the profitability of groups of most popular stocks over an eight-year period ending December 31, 1961. The most popular groups in each of the years studied consisted of the thirty industrial stocks most widely held by the managers of a sample group of investment companies. The least popular group consisted of a large random sample of industrial stocks held by only one or two different investment company managements. Because of reader response generated by the findings presented in the earlier article, the study was recently extended so as to determine the relative investment profitability of the least popular group of stocks during the years 1962 and 1963, and for the whole ten-year period ending December 31, 1963.
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W. Scott Bauman (1965) studied this question.
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