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Wall Street revalued : imperfect markets and inept central bankers / Andrew Smithers.
Lippincott Library HG4910 .S565 2009
Available
- Format:
- Book
- Author/Creator:
- Smithers, Andrew.
- Language:
- English
- Subjects (All):
- Capital market--United States.
- Capital market.
- United States.
- Monetary policy--United States.
- Monetary policy.
- Finance--United States.
- Finance.
- Banks and banking, Central--United States.
- Banks and banking, Central.
- Physical Description:
- x, 246 pages, 30 unnumbered pages of plates : illustrations (some color) ; 24 cm
- Place of Publication:
- Chichester, West Sussex, U.K. : John Wiley & Sons, 2009.
- Contents:
- Chapter 1 Introduction 1
- Chapter 2 Synopsis 15
- Chapter 3 Interest Rate Levels and the Stock Market 25
- Chapter 4 Interest Rate Changes and Share Price Changes 37
- Chapter 5 Household Savings and the Stock Market 41
- Chapter 6 A Moderately rather than a Perfectly Efficient Market 49
- Chapter 7 The Efficient Market Hypothesis 57
- Chapter 8 Testing the Imperfectly Efficient Market Hypothesis 67
- Chapter 9 Other Claims for Valuing Equities 81
- Chapter 10 Forecasting Returns without Using Value 91
- Chapter 11 Valuing Stock Markets by Hindsight Combined with Subsequent Returns 97
- Chapter 12 House Prices 105
- Chapter 13 The Price of Liquidity - The Return for Holding Illiquid Assets 109
- Chapter 14 The Return on Equities and the Return on Equity Portfolios 115
- Chapter 15 The General Undesirability of Leveraging Equity Portfolios 121
- Chapter 16 A Rare Exception to the Rule against Leverage 131
- Chapter 17 Profits are Overstated 137
- Chapter 18 Intangibles 145
- Chapter 19 Accounting Issues 159
- Chapter 20 The Impact on q 171
- Chapter 21 Problems with Valuing the Markets of Developing Economies 175
- Chapter 22 Central Banks' Response to Asset Prices 181
- Chapter 23 The Response to Asset Prices from Investors, Fund Managers and Pension Consultants 191
- Chapter 24 International Imbalances 195
- Chapter 25 Summing Up 197.
- Notes:
- Includes bibliographical references and index.
- ISBN:
- 9780470750056
- 0470750057
- OCLC:
- 354854338
- Online:
- Publisher description
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