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Stock Return Predictability: Is It There?
Monetary environments and international stock returns
Abstract Previous research documents that US stock returns are related to the US monetary environment. The focus of this paper is to determine whether stock returns in foreign markets are associatedExpand
Toward an Implied Cost of Capital
Sector Rotation and Monetary Conditions
We investigate the efficacy of a sector rotation strategy that utilizes an easily observable signal based on monetary conditions. Using 33 years of data, we find that the rotation strategy earnsExpand
Ownership Structure and the Value of the Firm: The Case of REITs
This article examines the relation between ownership structure and firm value as proxied by market-to-book ratios for real estate investment trusts (REITs) over the period 1980 to 1994. PiecewiseExpand
Is Now the Time to Add Commodities to Your Portfolio?
With the recent increase in equity volatility, commodity investments have garnered significant attention from investors. Previous research has found substantial benefits associated with commodityExpand
Emerging Markets: When Are They Worth It?
Using 24 years of data, we show that emerging market equities are a worthy addition to a U.S. investor's portfolio of developed market equities. Specifically, portfolio returns increased byExpand
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