Replicando os filtros de Graham: uma análise de carteiras rebalanceadas pelo crescimento do lucro.

Abstract

Value Investing guidelines, known as "Graham filters", provide a valuable approach by involving careful analysis of accounting and financial indicators to assess the economic viability of an investment in a company. These criteria help investors identify companies with the potential to generate significant returns, increasing their chances of obtaining robust gains in their operations. The objective of this research was to conduct a comparative study of the performance of portfolios constituted annually with the main Brazilian market indexes, to verify the applicability of Testa's (2011) strategy, with the difference being the rebalancing of the portfolios. The research was descriptive, with a quantitative approach, with secondary data collected from the Economática platform, and the research procedure was expost facto. From the analysis of the data, it was inferred that although Graham's rebalanced portfolios did not outperform the accumulated performance of the CDI fixed income index, they managed to beat the main variable income benchmark indices in the Brazilian market, with an accumulated return of over 81.19% and 103.56%, of the IBRX 50 and Ibovespa indices, respectively.