The Risk Premium Factor A New Model for Understanding the Volatile Forces that Drive Stock Prices
Aus der Reihe
Wiley Finance Editions
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Form:Einzelkauf Download
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Sprache:Englisch
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eBook Format:ePUB
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Produktdetails
Format
ePUB
Kopierschutz
Ja
Family Sharing
Nein
Text-to-Speech
Ja
Erscheinungsdatum
31.08.2011
Verlag
John Wiley & Sons IncSeitenzahl
208 (Printausgabe)
Dateigröße
1477 KB
Auflage
1. Auflage
Sprache
Englisch
EAN
9781118118610
A radical, definitive explanation of the link between loss
aversion theory, the equity risk premium and stock price, and how
to profit from it
The Risk Premium Factor presents and proves a radical new
theory that explains the stock market, offering a quantitative
explanation for all the booms, busts, bubbles, and multiple
expansions and contractions of the market we have experienced over
the past half-century.
Written by Stephen D. Hassett, a corporate development
executive, author and specialist in value management, mergers and
acquisitions, new venture strategy, development, and execution for
high technology, SaaS, web, and mobile businesses, the book
convincingly demonstrates that the equity risk premium is
proportional to long-term Treasury yields, establishing a
connection to loss aversion theory.
* Explains stock prices from 1960 through the present including
the 2008/09 "market meltdown"
* Shows how the S&P 500 has consistently reverted to values
predicted by the model
* Solves the equity premium puzzle by showing that it is
consistent with findings on loss aversion
* Demonstrates that three factors drive valuation and stock
price: earnings, long term growth, and interest rates
Understanding the stock market is simple. By grasping the
simplicity, business leaders, corporate decision makers, private
equity, venture capital, professional, and individual investors
will fully understand the system under which they operate, and find
themselves empowered to make better decisions managing their
businesses and investment portfolios.
aversion theory, the equity risk premium and stock price, and how
to profit from it
The Risk Premium Factor presents and proves a radical new
theory that explains the stock market, offering a quantitative
explanation for all the booms, busts, bubbles, and multiple
expansions and contractions of the market we have experienced over
the past half-century.
Written by Stephen D. Hassett, a corporate development
executive, author and specialist in value management, mergers and
acquisitions, new venture strategy, development, and execution for
high technology, SaaS, web, and mobile businesses, the book
convincingly demonstrates that the equity risk premium is
proportional to long-term Treasury yields, establishing a
connection to loss aversion theory.
* Explains stock prices from 1960 through the present including
the 2008/09 "market meltdown"
* Shows how the S&P 500 has consistently reverted to values
predicted by the model
* Solves the equity premium puzzle by showing that it is
consistent with findings on loss aversion
* Demonstrates that three factors drive valuation and stock
price: earnings, long term growth, and interest rates
Understanding the stock market is simple. By grasping the
simplicity, business leaders, corporate decision makers, private
equity, venture capital, professional, and individual investors
will fully understand the system under which they operate, and find
themselves empowered to make better decisions managing their
businesses and investment portfolios.
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