Book Library

Triumph of the Optimists: 101 Years of Global Investment Returns

630 views

Author: Elroy Dimson, Paul Marsh and Mike Staunton

Publisher: Princeton University Press

Year Printed: 2002

Edition: First

Printing: First

Condition: Good

eBook: Google ebook

Buy From Amazon

Pages: 339

Height: 11.25 inches

Width: 8.75 inches

Notes: Hard Cover, Dust Jacket

Crucially, the authors analyze total returns, including reinvested income. They show that some historical indexes overstate long-term performance because they are contaminated by survivorship bias and that long-term stock returns are in most countries seriously overestimated, due to a focus on periods that with hindsight are known to have been successful.

The book also provides the first comprehensive evidence on the long-term equity risk premium--the reward for bearing the risk of common stocks. The authors reveal whether the United States and United Kingdom have had unusually high stock market returns compared to other countries. The book covers the U.S., the U.K., Japan, France, Germany, Canada, Italy, Spain, Switzerland, Australia, the Netherlands, Sweden, Belgium, Ireland, Denmark, and South Africa.

Triumph of the Optimists is required reading for investment professionals, financial economists, and investors. It will be the definitive reference in the field and consulted for years to come.

Images