James P. O'Shaughnessy
Autor von What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time
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What Works on Wall Street : A Guide to the B… von James O'Shaughnessy
The author correlated entire stock market database to different investment schemes for different time horizons. Concludes that market follows a purposeful stride, not random walk. Introduces “shareholder yield”. Shows that long term, low risk is best when bought at reasonable price.
Citing copious historical statistics, James P. O’Shaughnessy argues persuasively that it is time for a new market orientation.
In his latest book Predicating the Markets of the Tomorrow, he says successful investors will abandon their love affair with large-cap growth stocks and mutual funds. Future performance will be dominated by small to medium sized growth companies and the large-cap value stocks, he says.
The first few years of this century have reacquainted investors with the concept that markets can and do fall. During the bear market that lasted from March, 2000 to March, 2003, the market darlings of the 1990s were crushed; the NASDAQ plunged 80 per cent; the S & P 500 more than 40 per cent. This time was not different. Evaluations do matter.
Drawing on more than a century of data, the originator of the “Dogs of the Dow” argues in the wake of that disaster, new market leadership, primarily small growth equities and large cap value stocks will supply the two decades of market leadership.
“The less a man knows,” Sigmund Freud once wrote, “about the past and the present the more insecure must be his judgment of the future.”
The Pointed Pundit has not read a better articulation of the market history than is found in this book. The past is the future’s prologue. Over the long term markets revert to the mean. James P. O’Shaughnessy provides investors with a clear, concise and unemotional look at the market’s history and a provocative glimpse into its future.
Penned by the Pointed Pundit
October 17, 2006
4:36:24 PM… (mehr)
In his latest book Predicating the Markets of the Tomorrow, he says successful investors will abandon their love affair with large-cap growth stocks and mutual funds. Future performance will be dominated by small to medium sized growth companies and the large-cap value stocks, he says.
The first few years of this century have reacquainted investors with the concept that markets can and do fall. During the bear market that lasted from March, 2000 to March, 2003, the market darlings of the 1990s were crushed; the NASDAQ plunged 80 per cent; the S & P 500 more than 40 per cent. This time was not different. Evaluations do matter.
Drawing on more than a century of data, the originator of the “Dogs of the Dow” argues in the wake of that disaster, new market leadership, primarily small growth equities and large cap value stocks will supply the two decades of market leadership.
“The less a man knows,” Sigmund Freud once wrote, “about the past and the present the more insecure must be his judgment of the future.”
The Pointed Pundit has not read a better articulation of the market history than is found in this book. The past is the future’s prologue. Over the long term markets revert to the mean. James P. O’Shaughnessy provides investors with a clear, concise and unemotional look at the market’s history and a provocative glimpse into its future.
Penned by the Pointed Pundit
October 17, 2006
4:36:24 PM… (mehr)
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