Also, we see the much lower than historically normal dividend as a negative factor in our analysis, and a return to more normal levels would be greeted positively by our methodology.
One aspect of this paper is an in-depth analysis justifying and calculating the GIA factor, which was originally described in Peltier 2002, which is also cited by the CU sea level group.
When conducting my analysis, I assumed all distributions were reinvested along the way and did not factor in transaction fees or taxes on realized gains from trades.
This could make search a key factor in brining big data to a very broad audience, giving direct access to data and putting analysis tools in the hands of decision-makers.
There is another factor at play here, though, and it is no less important: The Yankees merge traditional scouting with quantitative analysis at the pro level as well as any team in baseball.