Date of this Version


Document Type

Journal Article

Publication Details

Accepted Version.

Vanstone, B., Hahn, T. & Finnie, G. (2009). Fundamental investment research – Do US results apply to Australian investors? The finsia journal of applied finance (JASSA), (4), 13-16.

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2009 HERDC submission. FoR code: 1501

© Copyright 2009 Finsia - Financial Services Institute of Australasia

This article is reproduced with permission from Finsia - Financial Services Institute of Australasia.


For many investors, the financial crisis of 2008 and 2009 has sparked renewed interest in value-based investment approaches. There is much published research supporting the use of fundamental analysis for value-based investment, and much of this research comes from the US. In previous articles, we have shown that US based fundamental investment research does not translate well to the Australian market. In this paper, we show how to test a well documented US fundamental investment strategy and find that it also does not transfer well to our Australian market.



This document has been peer reviewed.