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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: ild who wrote (41322)9/11/2005 9:30:28 PM
From: ild  Respond to of 110194
 
The S&P 500 as a Stream of Payments
Suppose we look back over history, and at each date, add up all the dividends the S&P 500 actually delivered over the subsequent years, discounted at a long-term rate of return of 10%. We could literally check whether investors got what they paid for.
By John P. Hussman, Ph.D.
hussmanfunds.com