Global Positioning in Stocks: Contrarians beware

Research evidence excerpt

Global Positioning in Stocks: Contrarians beware

Notice to Readers:

The various screens identified in this report are intended to be indicative metrics only

and may not be used for reference purposes or as a measure of performance for any

financial instrument or contract, or otherwise relied upon by third parties for any other

purpose, without the prior written consent of BofA Global Research. These screens were

not created to act as a benchmark.

The screens in this report are not a recommended list either individually or as a group of

stocks. Investors should consider the fundamentals of the companies and their own

individual circumstances/objectives before making any investment decisions.

Triple Momentum is intended to be an indicative metric only and may not be used for

reference purposes or as a measure of performance for any financial instrument or

contract, or otherwise relied upon by third parties for any other purpose, without the

prior written consent of BofA Global Research. Triple Momentum was not created to act

as a benchmark.

Some of the analysis as described in this report is back-tested and does not represent

the actual performance of any account or fund. Back-tested performance depicts the

hypothetical back-tested performance of a particular strategy over the time period

indicated. In future periods, market and economic conditions will differ and the same

strategy will not necessarily produce the same results. No representation is being made

that any actual portfolio is likely to have achieved returns similar to those shown herein.

In fact, there are frequently sharp differences between back-tested returns and the

actual results realized in the actual management of a portfolio. Back-tested performance