IMAC Lecture - Global Capital Markets History & Valuation
Ron Bird | Australian National University & Portfolio Construction Forum
About this Lecture
This lecture instructs IMAC candidates on the history of global capital markets and the key principals of capital market valuation including:
- the history of stock and bond returns, standard deviations, and Sharpe ratios;
- the Equity Risk Premium, its history and its variability over time;
- real returns adjusting for inflation;
- historical inflation rates and bond yields over time;
- Price-Earnings (PE) ratios as a measure of value and history of stock market PEs;
- Alternative estimates of long-term stock market returns; and, ...