--- Bryan D Caplan [EMAIL PROTECTED] wrote:
(Incidentally, 7% sounds low relative to other averages I've heard.
Burton Malkiel cites a figure of 10% real pre-tax if I recall
correctly).
Roger Clarke and Meir Statman, Winter 2000, The DJIA Crossed 652,230,
Journal of Portfolio Management, have
In a message dated 1/8/03 7:10:56 AM, [EMAIL PROTECTED] writes:
True, but people don't live 300 years! People who make their fortunes in a
bull market and then get decimated in a bear market may not recover in their
lifetimes. It has happened before.
~Alypius Skinner
yes, and that may
In a message dated 1/7/03 12:53:47 AM, [EMAIL PROTECTED] writes:
I find it interesting that there are so many more articles about bubbles
than about the underlying reality of the equity premium puzzle. This is
a nice case where a little knowledge is a dangerous thing. The average
investor
If one had a cynical bent one might suggest that the predominance of
stories about the small bubbles in the huge cake batter of the miracle of
modern economic growth stems from a prevalence of statists in the news
media.
David Levenstam
What about the large bubbles?
Fred Foldvary
=
--- Bryan D Caplan [EMAIL PROTECTED] wrote:
I find it interesting that there are so many more articles about bubbles
than about the underlying reality of the equity premium puzzle. This is
a nice case where a little knowledge is a dangerous thing. The average
investor would be far better off
The average
investor would be far better off if they did think that enormous returns
could continue forever because, in a deep though less dramatic way, they
DO. I suspect that a lot of people have been turned off to stock
ownership for decades in spite of the fact that they are the smart
In a message dated 1/7/03 11:58:51 AM, [EMAIL PROTECTED] writes:
If one had a cynical bent one might suggest that the predominance of
stories about the small bubbles in the huge cake batter of the miracle of
modern economic growth stems from a prevalence of statists in the news
media.
David
Alypius Skinner wrote:
People aren't always alive in the long-term! Lots of baby boomers are
approaching retirement when they will begin to draw down their savings. If
their savings are being decimated by a bear market at the same time, they
may not have enough to last them until they die.
I find it interesting that there are so many more articles about bubbles
than about the underlying reality of the equity premium puzzle. This is
a nice case where a little knowledge is a dangerous thing. The average
investor would be far better off if they did think that enormous returns
could
http://www.mail-archive.com/futurework@dijkstra.uwaterloo.ca/msg05751.html
http://www.ardemgaz.com/tech/D4bcrashes6.html
History shows paths to market crashes, but lessons seem
forgotten LARRY ELLIOTT THE GUARDIAN,
LONDON In the spring of 1720, when all of London was clamoring
for shares
In a message dated 1/5/03 6:56:36 PM, [EMAIL PROTECTED] writes:
Take the crash of 1929. In Devil Take the Hindmost, Edward
Chancellor records how Wall Street's elite convinced themselves that
the rules of economics had been rewritten and that the market could
support ever-higher
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