You taking the St Michael?
Article Abstract:
A number of stocks once seen as defensive have performed poorly in 1999, and this is despite a price rise for the market as a whole. Marks and Spencer is one such stock, and the alpha measure, or return related to the stock rather than the market, does not necessarily show a long term decline. Risks related to defensive stocks have been higher in 1999 than would be implied by orthodox efficient portfolio theory. This helps to explain the poor performance of much defensive investing in 1999.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
An introduction to the Greek alphabet
Article Abstract:
Greek letters are popular among economists and alpha and beta are favorites. Beta is a measure obtained by dividing covariances between markets and particular stocks by the variance relating to the return offered by the market. Alpha is the return offered by stocks which is unrelated to the return offered by the market. Betas and alphas are not perfect tools for assessing stock prices, though they can provide a lot of useful information, and are better than a number of alternatives.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
The psy-entific approach
Article Abstract:
Behavioral finance involves trying to understand the psychology of investors, and this can help investors, though critics argue that it is only possible in the short term.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Tough at the top. Poynter to the future
- Abstracts: Accounting for the intangible. Body talk. Standard bearer
- Abstracts: The times they are a changing. All hands on deck. Talking stock
- Abstracts: ABI consults on genetics. Databases which put insurers to the sword. Insurers pass buck on flooding issues
- Abstracts: Costs of equity capital and model mispricing. Stock valuation and learning about profitability. Portfolio selection and asset pricing models