EconoFiction

With their back to the future: will past earnings trigger the next crisis?

22 Sep , 2018  

As these lines are being written (April 2018), the U.S. stock market is again in turmoil. After a two year bull run in which share prices soared by nearly 50 per cent, the market is suddenly dropping. Since the beginning of 2018, it lost nearly 10 per cent of its ...

, , , ,

EconoFiction

The CasP Project: Past, Present, Future

30 Apr , 2018  

The capitalization ritual consists of discounting riskadjusted expected futur e earnings to their present value. The  reduction involves fourelementary particles: (1) future earnings, (2) investors’ hype regarding these earnings, ( 3) risk perceptions associated with earnings  estimates and (4) the normal rate of return. When measured differentially, each elementary particle ...

, , , , , , ,