Stock Screens 

Momentum rounds off 2019 nicely

Momentum rounds off 2019 nicely

My blue-chip momentum screen has enjoyed a solid final quarter of 2019, with the longs (the 10 best-performing shares of the prior three months) registering good outperformance of the FTSE 100 index, while the shorts (the 10 worst-performing shares of the prior three months) have underperformed. But the well-documented momentum phenomenon is something that plays out in the long term rather than over time periods as brief as three months. In fact, 2019 as a whole has been rather disappointing as the longs have underperformed the FTSE 100 on a 12-month basis with a 5.1 per cent capital return compared with 8.0 per cent. The shorts did underperform the index by more, though, dropping 1.8 per cent. 

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