No. of Recommendations: 2

My questions are:
Does the one month forward gain indicate the gain for the month after purchase?
Are the prices used to calculate the returns, the closing prices for the day?
Is the one month hold a true month or a hold until the next purchase date shown?
Why am I not getting the same results assuming that the forward gain equals return?

This is my tricky "Price Date", "Data Date", "Usage Date" trifecta. No one else but me seems to understand it at first, especially considering the first and the last dates are only mentioned internally within the MIB Database.

Price Date: The date on which the Value Line historical recent data is recorded, most notably the "Recent Price" parameter. This is usally a Wednesday, two days before Value Line Publication. However, when a Holiday falls on a Friday (Such as Jan 1, July 4, Good Friday and sometimes Thanksgiving), the "Price Date" is a Tuesday. On one occasion during Thanksgiving, it was a Monday. I have no idea why.

Data Date: The date of VL Publication. I have determined authoritatively that VL always publishes on the last trading day of a week. Thus, the Data Date is almost always a Friday but as above, can be a Thursday when Friday is a holiday.

Usage Date: The date used for all transactions. This has been set to the first trading day after the Data Date. Before the days of bdfinney's web site (Back when we were cavemen), it was often true that the screen rankings were not available until after the close of the market on the Data Date. Thus, a safety precaution was taken to insure that the data was available to the public at the time of trades. This precaution was a 1 day time lag on all trades made using VL-based information.

Thus, all data is based on these three dates. I chose to list the "Data Date" in the MIB Database data and thus also in my results files because I felt that people would be most comfortable seeing the date that VL had on the issue in question. However, historical returns, such as for RSW, are based on going back 4, 13, 26, 39 and 52 weeks from the price date and forward returns are based on going forward from one usage date to usage date another. For example a 1 month forward return might be anywhere from 27 days (just shy of 4 weeks) to 36 days (just longer than 5 weeks) because of holidays and the fact that the time between issues of VL is limited to week long periods.



Below are all the dates in question:

VLMonth Price Date Data Date Usage Date
198601 Tue 31-Dec-85 Fri 3-Jan-86 Mon 6-Jan-86
198602 Wed 29-Jan-86 Fri 31-Jan-86 Mon 3-Feb-86
198603 Wed 26-Feb-86 Fri 28-Feb-86 Mon 3-Mar-86
198604 Tue 25-Mar-86 Thu 27-Mar-86 Mon 31-Mar-86
198605 Wed 30-Apr-86 Fri 2-May-86 Mon 5-May-86
198606 Wed 28-May-86 Fri 30-May-86 Mon 2-Jun-86
198607 Wed 25-Jun-86 Fri 27-Jun-86 Mon 30-Jun-86
198608 Wed 30-Jul-86 Fri 1-Aug-86 Mon 4-Aug-86
198609 Wed 27-Aug-86 Fri 29-Aug-86 Tue 2-Sep-86
198610 Wed 24-Sep-86 Fri 26-Sep-86 Mon 29-Sep-86
198611 Wed 29-Oct-86 Fri 31-Oct-86 Mon 3-Nov-86
198612 Tue 25-Nov-86 Fri 28-Nov-86 Mon 1-Dec-86
198701 Tue 30-Dec-86 Fri 2-Jan-87 Mon 5-Jan-87
198702 Wed 28-Jan-87 Fri 30-Jan-87 Mon 2-Feb-87
198703 Wed 25-Feb-87 Fri 27-Feb-87 Mon 2-Mar-87
198704 Wed 25-Mar-87 Fri 27-Mar-87 Mon 30-Mar-87
198705 Wed 29-Apr-87 Fri 1-May-87 Mon 4-May-87
198706 Wed 27-May-87 Fri 29-May-87 Mon 1-Jun-87
198707 Wed 24-Jun-87 Fri 26-Jun-87 Mon 29-Jun-87
198708 Wed 29-Jul-87 Fri 31-Jul-87 Mon 3-Aug-87
198709 Wed 26-Aug-87 Fri 28-Aug-87 Mon 31-Aug-87
198710 Wed 30-Sep-87 Fri 2-Oct-87 Mon 5-Oct-87
198711 Wed 28-Oct-87 Fri 30-Oct-87 Mon 2-Nov-87
198712 Tue 24-Nov-87 Fri 27-Nov-87 Mon 30-Nov-87
198801 Tue 29-Dec-87 Thu 31-Dec-87 Mon 4-Jan-88
198802 Wed 27-Jan-88 Fri 29-Jan-88 Mon 1-Feb-88
198803 Wed 24-Feb-88 Fri 26-Feb-88 Mon 29-Feb-88
198804 Tue 29-Mar-88 Thu 31-Mar-88 Mon 4-Apr-88
198805 Wed 27-Apr-88 Fri 29-Apr-88 Mon 2-May-88
198806 Wed 25-May-88 Fri 27-May-88 Tue 31-May-88
198807 Wed 29-Jun-88 Fri 1-Jul-88 Tue 5-Jul-88
198808 Wed 27-Jul-88 Fri 29-Jul-88 Mon 1-Aug-88
198809 Wed 31-Aug-88 Fri 2-Sep-88 Tue 6-Sep-88
198810 Wed 28-Sep-88 Fri 30-Sep-88 Mon 3-Oct-88
198811 Wed 26-Oct-88 Fri 28-Oct-88 Mon 31-Oct-88
198812 Wed 30-Nov-88 Fri 2-Dec-88 Mon 5-Dec-88
198901 Tue 27-Dec-88 Fri 30-Dec-88 Tue 3-Jan-89
198902 Wed 25-Jan-89 Fri 27-Jan-89 Mon 30-Jan-89
198903 Wed 22-Feb-89 Fri 24-Feb-89 Mon 27-Feb-89
198904 Wed 29-Mar-89 Fri 31-Mar-89 Mon 3-Apr-89
198905 Wed 26-Apr-89 Fri 28-Apr-89 Mon 1-May-89
198906 Wed 31-May-89 Fri 2-Jun-89 Mon 5-Jun-89
198907 Tue 27-Jun-89 Fri 30-Jun-89 Mon 3-Jul-89
198908 Wed 26-Jul-89 Fri 28-Jul-89 Mon 31-Jul-89
198909 Wed 30-Aug-89 Fri 1-Sep-89 Tue 5-Sep-89
198910 Wed 27-Sep-89 Fri 29-Sep-89 Mon 2-Oct-89
198911 Wed 25-Oct-89 Fri 27-Oct-89 Mon 30-Oct-89
198912 Wed 29-Nov-89 Fri 1-Dec-89 Mon 4-Dec-89
199001 Wed 27-Dec-89 Fri 29-Dec-89 Tue 2-Jan-90
199002 Wed 31-Jan-90 Fri 2-Feb-90 Mon 5-Feb-90
199003 Wed 28-Feb-90 Fri 2-Mar-90 Mon 5-Mar-90
199004 Wed 28-Mar-90 Fri 30-Mar-90 Mon 2-Apr-90
199005 Wed 25-Apr-90 Fri 27-Apr-90 Mon 30-Apr-90
199006 Wed 30-May-90 Fri 1-Jun-90 Mon 4-Jun-90
199007 Wed 27-Jun-90 Fri 29-Jun-90 Mon 2-Jul-90
199008 Wed 25-Jul-90 Fri 27-Jul-90 Mon 30-Jul-90
199009 Wed 29-Aug-90 Fri 31-Aug-90 Tue 4-Sep-90
199010 Wed 26-Sep-90 Fri 28-Sep-90 Mon 1-Oct-90
199011 Wed 31-Oct-90 Fri 2-Nov-90 Mon 5-Nov-90
199012 Wed 28-Nov-90 Fri 30-Nov-90 Mon 3-Dec-90
199101 Wed 26-Dec-90 Fri 28-Dec-90 Mon 31-Dec-90
199102 Wed 30-Jan-91 Fri 1-Feb-91 Mon 4-Feb-91
199103 Wed 27-Feb-91 Fri 1-Mar-91 Mon 4-Mar-91
199104 Tue 26-Mar-91 Thu 28-Mar-91 Mon 1-Apr-91
199105 Wed 24-Apr-91 Fri 26-Apr-91 Mon 29-Apr-91
199106 Wed 29-May-91 Fri 31-May-91 Mon 3-Jun-91
199107 Wed 26-Jun-91 Fri 28-Jun-91 Mon 1-Jul-91
199108 Wed 31-Jul-91 Fri 2-Aug-91 Mon 5-Aug-91
199109 Wed 28-Aug-91 Fri 30-Aug-91 Tue 3-Sep-91
199110 Wed 25-Sep-91 Fri 27-Sep-91 Mon 30-Sep-91
199111 Wed 30-Oct-91 Fri 1-Nov-91 Mon 4-Nov-91
199112 Mon 25-Nov-91 Fri 29-Nov-91 Mon 2-Dec-91
199201 Tue 31-Dec-91 Fri 3-Jan-92 Mon 6-Jan-92
199202 Wed 29-Jan-92 Fri 31-Jan-92 Mon 3-Feb-92
199203 Wed 26-Feb-92 Fri 28-Feb-92 Mon 2-Mar-92
199204 Wed 25-Mar-92 Fri 27-Mar-92 Mon 30-Mar-92
199205 Wed 29-Apr-92 Fri 1-May-92 Mon 4-May-92
199206 Wed 27-May-92 Fri 29-May-92 Mon 1-Jun-92
199207 Wed 24-Jun-92 Fri 26-Jun-92 Mon 29-Jun-92
199208 Wed 29-Jul-92 Fri 31-Jul-92 Mon 3-Aug-92
199209 Wed 26-Aug-92 Fri 28-Aug-92 Mon 31-Aug-92
199210 Wed 30-Sep-92 Fri 2-Oct-92 Mon 5-Oct-92
199211 Wed 28-Oct-92 Fri 30-Oct-92 Mon 2-Nov-92
199212 Tue 24-Nov-92 Fri 27-Nov-92 Mon 30-Nov-92
199301 Tue 29-Dec-92 Thu 31-Dec-92 Mon 4-Jan-93
199302 Wed 27-Jan-93 Fri 29-Jan-93 Mon 1-Feb-93
199303 Wed 24-Feb-93 Fri 26-Feb-93 Mon 1-Mar-93
199304 Wed 31-Mar-93 Fri 2-Apr-93 Mon 5-Apr-93
199305 Wed 28-Apr-93 Fri 30-Apr-93 Mon 3-May-93
199306 Wed 26-May-93 Fri 28-May-93 Tue 1-Jun-93
199307 Wed 30-Jun-93 Fri 2-Jul-93 Tue 6-Jul-93
199308 Wed 28-Jul-93 Fri 30-Jul-93 Mon 2-Aug-93
199309 Wed 1-Sep-93 Fri 3-Sep-93 Tue 7-Sep-93
199310 Wed 29-Sep-93 Fri 1-Oct-93 Mon 4-Oct-93
199311 Wed 27-Oct-93 Fri 29-Oct-93 Mon 1-Nov-93
199312 Tue 23-Nov-93 Fri 26-Nov-93 Mon 29-Nov-93
199401 Wed 29-Dec-93 Fri 31-Dec-93 Mon 3-Jan-94
199402 Wed 26-Jan-94 Fri 28-Jan-94 Mon 31-Jan-94
199403 Wed 23-Feb-94 Fri 25-Feb-94 Mon 28-Feb-94
199404 Tue 29-Mar-94 Thu 31-Mar-94 Mon 4-Apr-94
199405 Tue 26-Apr-94 Fri 29-Apr-94 Mon 2-May-94
199406 Wed 25-May-94 Fri 27-May-94 Tue 31-May-94
199407 Wed 29-Jun-94 Fri 1-Jul-94 Tue 5-Jul-94
199408 Wed 27-Jul-94 Fri 29-Jul-94 Mon 1-Aug-94
199409 Wed 31-Aug-94 Fri 2-Sep-94 Tue 6-Sep-94
199410 Wed 28-Sep-94 Fri 30-Sep-94 Mon 3-Oct-94
199411 Wed 26-Oct-94 Fri 28-Oct-94 Mon 31-Oct-94
199412 Wed 30-Nov-94 Fri 2-Dec-94 Mon 5-Dec-94
199501 Wed 28-Dec-94 Fri 30-Dec-94 Tue 3-Jan-95
199502 Wed 25-Jan-95 Fri 27-Jan-95 Mon 30-Jan-95
199503 Wed 22-Feb-95 Fri 24-Feb-95 Mon 27-Feb-95
199504 Wed 29-Mar-95 Fri 31-Mar-95 Mon 3-Apr-95
199505 Wed 26-Apr-95 Fri 28-Apr-95 Mon 1-May-95
199506 Wed 31-May-95 Fri 2-Jun-95 Mon 5-Jun-95
199507 Wed 28-Jun-95 Fri 30-Jun-95 Mon 3-Jul-95
199508 Wed 26-Jul-95 Fri 28-Jul-95 Mon 31-Jul-95
199509 Wed 30-Aug-95 Fri 1-Sep-95 Tue 5-Sep-95
199510 Wed 27-Sep-95 Fri 29-Sep-95 Mon 2-Oct-95
199511 Wed 25-Oct-95 Fri 27-Oct-95 Mon 30-Oct-95
199512 Wed 29-Nov-95 Fri 1-Dec-95 Mon 4-Dec-95
199601 Tue 26-Dec-95 Thu 28-Dec-95 Fri 29-Dec-95
199602 Wed 31-Jan-96 Fri 2-Feb-96 Mon 5-Feb-96
199603 Wed 28-Feb-96 Fri 1-Mar-96 Mon 4-Mar-96
199604 Wed 27-Mar-96 Fri 29-Mar-96 Mon 1-Apr-96
199605 Wed 24-Apr-96 Fri 26-Apr-96 Mon 29-Apr-96
199606 Wed 29-May-96 Fri 31-May-96 Mon 3-Jun-96
199607 Wed 26-Jun-96 Fri 28-Jun-96 Mon 1-Jul-96
199608 Wed 31-Jul-96 Fri 2-Aug-96 Mon 5-Aug-96
199609 Wed 28-Aug-96 Fri 30-Aug-96 Tue 3-Sep-96
199610 Wed 25-Sep-96 Fri 27-Sep-96 Mon 30-Sep-96
199611 Wed 30-Oct-96 Fri 1-Nov-96 Mon 4-Nov-96
199612 Tue 26-Nov-96 Fri 29-Nov-96 Mon 2-Dec-96
199701 Tue 31-Dec-96 Fri 3-Jan-97 Mon 6-Jan-97
199702 Wed 5-Feb-97 Fri 7-Feb-97 Mon 10-Feb-97
199703 Wed 5-Mar-97 Fri 7-Mar-97 Mon 10-Mar-97
199704 Tue 25-Mar-97 Thu 27-Mar-97 Mon 31-Mar-97
199705 Wed 30-Apr-97 Fri 2-May-97 Mon 5-May-97
199706 Wed 4-Jun-97 Fri 6-Jun-97 Mon 9-Jun-97
199707 Tue 1-Jul-97 Thu 3-Jul-97 Mon 7-Jul-97
199708 Wed 30-Jul-97 Fri 1-Aug-97 Mon 4-Aug-97
199709 Wed 3-Sep-97 Fri 5-Sep-97 Mon 8-Sep-97
199710 Wed 1-Oct-97 Fri 3-Oct-97 Mon 6-Oct-97
199711 Wed 5-Nov-97 Fri 7-Nov-97 Mon 10-Nov-97
199712 Wed 3-Dec-97 Fri 5-Dec-97 Mon 8-Dec-97
199801 Wed 7-Jan-98 Fri 9-Jan-98 Mon 12-Jan-98
199802 Wed 4-Feb-98 Fri 6-Feb-98 Mon 9-Feb-98
199803 Wed 4-Mar-98 Fri 6-Mar-98 Mon 9-Mar-98
199804 Wed 8-Apr-98 Fri 10-Apr-98 Mon 13-Apr-98
199805 Wed 6-May-98 Fri 8-May-98 Mon 11-May-98
199806 Wed 3-Jun-98 Fri 5-Jun-98 Mon 8-Jun-98
199807 Tue 30-Jun-98 Thu 2-Jul-98 Mon 6-Jul-98
199808 Wed 5-Aug-98 Fri 7-Aug-98 Mon 10-Aug-98
199809 Wed 2-Sep-98 Fri 4-Sep-98 Tue 8-Sep-98
199810 Wed 30-Sep-98 Fri 2-Oct-98 Mon 5-Oct-98
199811 Wed 4-Nov-98 Fri 6-Nov-98 Mon 9-Nov-98
199812 Wed 2-Dec-98 Fri 4-Dec-98 Mon 7-Dec-98
199901 Wed 30-Dec-98 Wed 30-Dec-98 Thu 31-Dec-98

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