This research is a systematic, in depth empirical test of the strong form of the efficient market hypothesis (EMH) using the dual-fund industry as the research subject. Unlike most strong-form EMH research, this study deals with a small, homogeneous sector of the investment company industry with a comparable origin date. To obtain homogeneity of the research subjects, the sample size is necessarily small (7), thus, making it difficult to find statistically significant results. In general, portfolio performance is negatively correlated with variability in measures of portfolio characteristics such as the major mix, common stock categories, portfolio turnover, etc. The better-performing dual funds were more consistently managed while the lower-performing companies had significant and sometimes frequent changes in portfolio policies. In line with the efficient market hypothesis, "passive" management, i.e., low turnover, few changes in major mix or common stock composition, shows better results in the dual-fund industry from inception through 1973.

Despite the obvious importance attached to the psychological significance of height and weight in everyday life, few researchers have studied the relationship of these variables to the sales performance of ordinary life insurance salesmen. In the present study, it was hypothesized that (1) taller and/or heavier ordinary life insurance salesmen are more successful than shorter and/or lighter ordinary life insurance salesmen; (2) those who possess more "ideal statures" are more successful than those who do not; and, secondarily, (3) life insurance companies tend to hire taller and/or heavier applicants for life insurance sales positions. The results of this study offer further support for the view that many sales managers and recruiters tend to believe that "the bigger they are, the better," and to select applicants accordingly, with the qualification that in this sample, female agents were taller, but lighter than average. These findings are discussed in terms of their implications for the life insurance industry and future investigations.