Special Report on
Understanding the “Fed Model”∗
Understanding the “Fed Model”∗ - Trends
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It continues to fascinate me that investors are entirely willing to base their financial security on concepts that can be wholly disproved with even a cursory look at historical data. The Fed Model is the predominant example of this at present. The following chart should be sufficient to reiterate that the effect of interest rates on stock valuations is vastly overrated, and that raw earnings yields (particularly based on peak earnings to date) explain subsequent market returns far better than indicators that �adjust� for interest rates in the one-for-one way the Fed Model does. The truth is that the relationship between stocks ...
People are rightly warned not to take what they read on the Internet at face value. A good warning but hardly sufficient. Anyone who has regularly read academic journals and attended academic conferences knows that peer review is hardly foolproof. Publishers with hoards of editors publish junk books, and newspaper editors and columnists disseminate propaganda. So the only authority anyone can appeal to is a good mind highly schooled in the techniques of critical reading. Even people with eminent reputations often publish junk but are rarely upbraided. (Eminence has its protections and ... Read More
SURVEY RESULTS FOR
UNDERSTANDING THE “FED MODEL”∗
The New World Order Presidents in their OWN words.
Public-Private CTV-Olympic Celebration (Part 2/2)
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