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The (Not Very Deep) Meanings of the Dow's New Record

Harvard Business Review

stock market performance in 1923, when Standard Statistics Co. It's also one that would be pedantic to harp on, given that, despite its flaws, the Dow is sending pretty much the same message as the S&P and Russell 3000: the stock market is back! So the stock market is doing great. It was replaced as the best measure of U.S.

Price 8
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What If Investors Who Held Their Shares Longer Got More Voting Power?

Harvard Business Review

But I long for actions that go beyond admonitions to managers and boards to do better, that give both parties a better chance to stand up to capital markets players, like activist hedge funds, pressuring them to become too short-term focused. One capital form is debt: a bond. The Refresher: Net Present Value.

Hedge 9
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Why Those Guys Won the Economics Nobels

Harvard Business Review

You know, the future value of money, the present value of money — money today is worth more than in the future because you can invest it and get interest. You’d have this beta with the market, so you have the riskless rate plus beta times the equity premium. When the Riksbank Prizes in Economic Sciences (a.k.a.

CAPM 8
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Is Your Business Biased Against Innovation?

Strategy Driven

Many conventional metrics we use to estimate value are based on faulty assumptions. Net present value [NPV] is a case in point. With Discovery-Driven Growth , Rita and Ian offer managers everywhere a time-tested blueprint for planning and executing a strategic growth agenda with confidence – in any market.