Skuteczność strategii inwestycyjnej bazującej na wskaźniku ceny do zysku w oparciu o model Johna Neffa

The article is devoted one of the investment strategy based on value investing. This strategy was developed by John Neff. He headed the Windsor Fund for many years. The main assumption of this strategy is investing in stocks these are low market valuation ratio (price to earnings ratio forming from 40 to 60% of the market) and additionally, these companies are likely to develop. These are measured according to certain criteria. In this publication empirically verified the results to the strategy of John Neff for the stocks listed on the Polish stock market in the years 2007-2012. Companies in accordance with criterion of size of P/E ratio evaluated for compatibility with the Rother objectives of the strategy, and then tested the effects of investment in their stocks as compared to the results for the broad market index.