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Stocks for the Long Run
Part 2: Valuation, Style Investing, and Global Markets.
Chapter 8 (more…)

“How Fickle Markets Overwhelm Historical Facts”

Stocks for the Long Run , Chapter 6.

-It was not until the early twentieth century that researchers came to realize that stocks, as a class, might be suitable investments under certain economic conditions for investors outside the traditional categories of speculators and insiders. (more…)

“Stocks Have the Edge”

Stocks for the Long Run Chapter 5

-In contrast to fixed-income investments, both the capital gains and now the dividends are treated favorably by the US tax code. Since 1913, when the federal income tax was instituted, the after tax real return on stocks has ranged from 6.3 percent for untaxed investors to 2.8 percent or investors in the highest bracket who do not defer their capital gains. For taxable bonds the comparable figures are 1.9% to -0.7%. (more…)

Stocks for the Long Run Chapter 4 (more…)