Thought Leadership

OUR VALUE COMES FROM AN ANALYTICAL UNDERSTANDING OF THE FORCES AT WORK IN FINANCIAL MARKETS

Feb 23, 2024

Does the dividend/price ratio predict returns?

We discuss the predictability of aggregate stock market returns using currently observed dividend-price ratios Return predictability is...

Feb 2, 2024

We review a classic question on the relation between financial risk and equity returns, and discover that the evidence defies the theory...