Does the Fed Model travel well?

Owain ap Gwilym, James Seaton, Karina Suddason, Stephen Thomas

Allbwn ymchwil: Cyfraniad at gyfnodolynErthygladolygiad gan gymheiriaid

3 Dyfyniadau(SciVal)

Crynodeb

Equity markets are frequently valued on the basis of the relative yields of stocks and bonds. The most widely known of these comparisons is the Fed model; stocks are considered cheap when their earnings yield exceeds a long bond yield. Comparisons examining the performance of this metric and more traditional valuation measures such as earnings and dividend yields in six international markets are interesting. The Fed model turns out to be poor in explaining long-run returns, while it has some merit as a short-term tactical asset allocation tool.
Iaith wreiddiolSaesneg
Tudalennau (o-i)68-75
Nifer y tudalennau8
CyfnodolynJournal of Portfolio Management
Cyfrol33
Rhif cyhoeddi1
Dynodwyr Gwrthrych Digidol (DOIs)
StatwsCyhoeddwyd - 2006

Ôl bys

Gweld gwybodaeth am bynciau ymchwil 'Does the Fed Model travel well?'. Gyda’i gilydd, maen nhw’n ffurfio ôl bys unigryw.

Dyfynnu hyn