IMAC Lecture - Global Capital Markets History & Valuation

Ron Bird  |  Australian National University & Portfolio Construction Forum

About this Lecture

This lecture instructs IMAC candidates on the history of global capital markets and the key principals of capital market valuation including:

  • the history of stock and bond returns, standard deviations, and Sharpe ratios;
  • the Equity Risk Premium, its history and its variability over time;
  • real returns adjusting for inflation;
  • historical inflation rates and bond yields over time;
  • Price-Earnings (PE) ratios as a measure of value and history of stock market PEs;
  • Alternative estimates of long-term stock market returns; and,
  • ...

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