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Journal Article
Observations: bulls, bears, and ballclubs
When professional sports teams go public.
Journal Article
Observations: index overstock
Index funds are popular--some think too popular. Could a sell-off be in our future?
Journal Article
Stock prices and the equity premium during the recent bull and bear markets
After the sharp run-up in stock prices during the bull market of the late 1990s and their subsequent collapse in 20012002, the prices of equities as measured by the S&P 500 are once again uncommonly high relative to companies current and prospective earnings, causing some to question whether they are too high relative to the underlying value of the companies they represent. ; This paper compares the recent performance of the equities constituting the S&P 500 with their performance since the 1940s and then extends the familiar Gordon model of equity pricing to examine the contributions of the ...