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Some lessons from capital market history (Average Returns:the first lesson…
Some lessons from capital market history
Return(報酬)
Dollar returns
Total dollar return=Dividend income + Capital gain(loss)
Total cash if stock is sold = Initial investment+total return
Percentage returns
PR=(Dividends paid at end of period+Change in market value over period)/Beginning market value
Dividend yield = D下一期/P本期
Capital gains yield =(P下期-P本期)/P本期
The historical record(歷史紀錄)
A First look
A closer look
Average Returns:the first lesson
Calculating average returns
Average returns:The Historical record
Risk premiums
The first lesson
The variability of Returns:The second lesson
More about Average Returns
Capital Market Efficiency