Studying the Performance of Contrarian Strategies in Tehran Stock Exchange with Using Fuzzy Approach

Abstract During recent years, examining the performance of contrarian strategies has been taken into consideration by scholars and stock marketʹs activists, though several evidences are available based on profitability of this type of strategies, much of them have been referred to American and Europeanʹs stock markets. In current study, the act of these strategies will be examined in Tehranʹs stock exchange over a time spanning 2007 and 2009 by using Fuzzy approach and by computing portfoliosʹ return comprising stock with indices such as low Price/Earning, small size, high payout ratio, low market value/book value and by cross sectional weighted data analysis method. Results show that meaning relation between valuable stock with low Price/Earning, small size, and high payout ratio is tendered offer by Fuzzy Expert System.