Estratégia de formação de carteiras de investimento de longo prazo baseada em dividendos

Abstract

Try to find strategies for investments are core in financial economics. The investment environment has become more complex. Earnings are the most important determinant of common stock prices and return on investments comes from capital apreciation and income.This paper presents a dividend oriented investing strategy with quantitative approach. Althrough strategy treats dividend as main criteria this paper have integrated others factors in the security selection process. So, the focus is not only on high dividend yields, but diversifying across all sectors making the income come from a broad spectrum of industries. Pattern of growth, company size and liquidity are added to analysis trying to find the best combination of characteristics for a stock. The ease of application was a main guide because quantitative models often involves usage of advanced mathematics, statiscs, and computer methods of which only a minority of investment community have a functional working knowledge. Despite the inherent limitations of back testing and simulating trading, this model has a potential large range of purpose. It coul be useful for Institutional investors, funds, as well as retails investors, always for long period investments