MENGENAI EPISOD INI
Roger G. Ibbotson, PhD, and Laurence B. Siegel join Lotta Moberg, PhD, CFA, to continue their discussion of Exponential Wealth: Centuries of Stock and Bond Returns, a forthcoming CFA Institute Research Foundation book. This conversation focuses on the construction of long-run stock and bond market indices and the challenges of measuring returns across centuries of financial history. Ibbotson and Siegel examine index methodologies, including market capitalization weighting, equal weighting, and free-float adjustments, and discuss what investors can learn from historical data about concentration, volatility, survivorship bias, and the small-cap premium. The conversation also explores the book's international perspective, drawing on centuries of market data from around the world to provide context for capital market forecasts and long-term investment decisions.
Exponential Wealth is a 21-chapter compendium of data, insights, and essays by 24 distinguished authors on stock and bond markets. . The book is organized into four sections covering stock and bond return history, the past 100 years in US markets, centuries of US and global returns, and forecasts for the future. Topics include index construction, equity risk premiums, bubbles and crashes, commodities, global market history, and forecasting.
Contributing authors include David Chambers, Peng Chen, Thomas Coleman, Fernando de la Luz Reyes, Elroy Dimson, William N. Goetzmann, James Harrington, Thomas Idzorek, Antti Ilmanen, Rajkumar Janardanan, Paul Kaplan, Tadaaki Komatsubara, Otto Manninen, Paul Marsh, Edward McQuarrie, Carla Nunes, Xiao Qiao, Paul Rintamäki, Geert Rouwenhorst, Mike Staunton, Bryan Taylor, and James Tyler.
Related content and publications:
Exponential Wealth: Centuries of Stock and Bond Returns with Ibbotson and Siegel (Part 1)
The Long-Run Drivers of Stock Returns: Total Payouts and the Real Economy
https://rpc.cfainstitute.org/research/financial-analysts-journal/2017/the-long-run-drivers-of-stock…
Financial Thought Exchange with Rob Arnott, Part 1
https://www.youtube.com/watch?v=ox7-y7PZ_ek
Financial Thought Exchange with Rob Arnott, Part 2
https://www.youtube.com/watch?v=ShaI1N1BrEM
Stocks, Bonds, Bills, and Inflation® (SBBI®): 2020 Summary Edition
https://rpc.cfainstitute.org/research/foundation/2020/sbbi-2020-summary-edition
Stocks, Bonds, Bills, and Inflation: Historical Returns (1926–1987)
https://rpc.cfainstitute.org/research/foundation/1989/rf-v1989-n3-sbbi-historical-returns
Stocks, Bonds, Bills, and Inflation: The Past and the Future, 1982 Edition
