Forecasting the S&P500: A Disequilibrium Indicator

S. Davidson and S. Meyer

Working Papers from Melbourne - Centre in Finance

Abstract: The ability of forecast the S&P500 is inconsistent with the notion of efficient markets. this established wisdom has come under attack in the past few years, from such concepts as noise trading. A Potential problem with noise trading, however, is that there are no tools to inform inormation of the extent of mis-pricing. This paper offers such a tool.

Keywords: FORECASTS; PRICING (search for similar items in EconPapers)
JEL-codes: E47 G13 (search for similar items in EconPapers)
Pages: 28 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:fth:melrfi:96-5

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