I've updated the post on stock market returns and the three-factor model with some examination of the data. Much like the case with prices or profit rates, we can think of there being a macroeconomic statistical equilibrium of IT index states.
Friday, December 16, 2016
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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.
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Really appreciate this post Jason! It's actually pretty remarkable what you have done here, to relate all the factors of relative stock performance to information equilibrium in one framework. Kudos!
ReplyDeleteThanks, Todd! I have another bit on Tobin's Q coming up ...
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