Investor expectations and fundamentals: disappointment ahead?

John Carlson () and Eduard A. Pelz

Economic Commentary, 2000, issue May 1

Abstract: The average annual return of the S&P 500 since 1994 has exceeded 25 percent. Confidence is high and investors are looking forward to continued above-average returns. The authors of this Economic Commentary attempt to reconcile investors' expectations with a decline in the equity premium, using a standard approach to stock-price valuation.

Keywords: Stock; -; Prices (search for similar items in EconPapers)
Date: 2000
View citations in EconPapers

Downloads: (external link)
http://www.clevelandfed.org/research/commentary/2000/0501.htm (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:fip:fedcec:y:2000:i:may1

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Economic Commentary from Federal Reserve Bank of Cleveland
Contact information at EDIRC.
Series data maintained by Diane Rosenberger ().