@article {Desrosiers29, author = {St{\'e}phanie Desrosiers and Mohamed Kortas and Jean-Fran{\c c}ois L{\textquoteright}her and Jean-Fran{\c c}ois Plante and Mathieu Roberge}, title = {Style Timing in Emerging Markets}, volume = {15}, number = {4}, pages = {29--37}, year = {2006}, doi = {10.3905/joi.2006.669095}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Historical evidence suggests that relative-value and relative-strength strategies have cycled in and out of favor in emerging country selection. As such, style timing appears potentially rewarding. A risk-aversion proxy could be useful to distinguish between times when relative-value or relative-strength strategies outperform. The authors propose a criterion for style timing supported by psychological evidence that prior results affect subsequent risk-taking behavior. The authors find that a strategy using a relative-value (relative-strength) indicator following negative (positive) market performance presents consistent risk-adjusted performance that is superior to that resulting from either the relative-value or relative-strength strategies.TOPICS: Emerging markets, portfolio construction, in portfolio management}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/15/4/29}, eprint = {https://joi.pm-research.com/content/15/4/29.full.pdf}, journal = {The Journal of Investing} }