I had wondered in a previous post about why larger cap MFI companies tended to have higher Piotroski F-scores. I realized recently that I had failed to consider an important explanation. Chances were good that they didn't grow to be a large cap without being a fairly good company, especially considering that these large cap companies had high return on invested capital. In other words, the fact of being both a large cap and a MFI company should both correlate well with scoring highly on the Piotroski scale.
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