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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: jpdunwell who wrote (40524)7/18/2001 1:07:58 PM
From: Louis V. Lambrecht  Respond to of 100058
 
jp - thanks, yes, part of it.
Will check more deeply.

The problem with all those studies is to choose a reference period of time and try to determine what is normal.

The 8% yield I like is inflation + lombard rate + premium.
Premium is zero for a neutral market: you don't pay a premium, you don't get a discount.
Lombard rate has historically (and it goes back to the Middle ages) 3.5% (only constant in my formula).
And long term inflation is set in my books at 4.5%.


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