I have performed backtest of simple strategy derived from (and very similar to) the Magic Formula and the Acquirer's Multiple for period between 2004.01.01 and 2018.01.01 (14 years) for US equities, which I called "gemalpha" (this is actually a name of my product which allows you to invest according to this formula: https://www.gemalpha.com/). The single most important difference is that I am using operating income instead of ebit for calculating ranking for "cheapness" (reason is that I believe in even simpler models than mentioned above).
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