Use of the computer in the stock selection process, by Bruce Lewis Kersey.
Dissertation: Louisiana State University, 1970
Description:
ix, 245 leaves
Because computers are being used with increasing frequency in the stock selection process, this study was under taken to examine how they are being utilized and their effects on this important endeavor. Such specific procedures as screening, correlation, simulation, and discounted cash flow were first examined. Next the computer-assisted stock selection systems of COMPUSTAT, an IBM program, LAFFFl, SCAN, and FFL, along with their advantages and disadvantages, were presented. The uses of computers in fundamental and technical approaches to stock selection were investigated, and it ap pears that sorie fundamentalists may have shifted to the technical viewpoint. However, some fundamentalists feel that the computer will be of greater aid to them as they can now pursue in greater depth the relationships between the economy and earnings of specific companies and industries. Because the majority of data which analysts use is secured from accounting records, some of the problem areas of accounting and their impact on investing were discussed.
