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,
...