Abstract
Are expensive, that is, high-priced stocks, in reality the cheap ones from a fundamental perspective? Applying a multidimensional approach, the paper assesses why and how investing in high-priced stocks generates a return premium compared to low-priced stocks. The findings strongly suggest that investing in high-priced stocks is another legitimate investment style (Sharpe 1992) apart from value/growth, size, momentum and liquidity.
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