THE MARKET - Cognitive Biases in Market Forecasts - Will the DJIA soar to 36,000 or plummet to 3,600? The desire to know the future is so strong that it blinds us to the fallibility of forecasts. The authors find that P-E ratios and dividend yields provide no help in forecasting one or two-year stock returns, and even ten-year forecasts are far from reliable. They trace the belief that P-E ratios ...
Year of publication: |
2000
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Authors: | Fisher, Kenneth L. ; Statman, Meir |
Published in: |
The journal of portfolio management : a publication of Institutional Investor. - New York, NY : Institutional Investor, ISSN 0095-4918, ZDB-ID 1971451. - Vol. 27.2000, 1, p. 72-81
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