PT - JOURNAL ARTICLE AU - Tom Arnold AU - John H. Earl, Jr. AU - David S. North TI - On a Risk-Adjusted Basis, Do Firms Featured on Business Magazine Covers Make Good Contrarian Investments? AID - 10.3905/jwm.2010.13.2.088 DP - 2010 Jul 31 TA - The Journal of Wealth Management PG - 88--93 VI - 13 IP - 2 4099 - https://pm-research.com/content/13/2/88.short 4100 - https://pm-research.com/content/13/2/88.full AB - Firms featured in cover stories collected from Business Week, Fortune, and Forbes over a 20-year period (1983–2002) are examined to determine whether risk-adjusted contrarian performance in the stock price occurs after the publication of the story. Positive cover stories lead to abnormally low performance in stock price on a risk-adjusted basis, although the returns are still positive. Negative cover stories lead to positive returns on the stock,but the returns are still not superior on a risk-adjusted basis.TOPICS: Security analysis and valuation, information providers/credit ratings, performance measurement