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Small stock theory originated around 1980 from research conducted at the University of Chicago. Founded with a $300,000 Merrill Lynch grant in 1960, its Center for Research in Securities Prices (CRSP) was endowed with the mission of collecting and analyzing data to better understand past stock market behavior. The initial work at CRSP focused on the New York Stock Exchange (NYSE) and later was expanded to the broad S&P 500 introduced in 1957. To learn
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