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Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. What risk premium is "normal"? Robert D Arnott; Peter L Bernstein Financial Analysts Journal; Mar/Apr 2002; 58, 2; ABI/INFORM Global pg. 64
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What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Aug 29, 2018

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Page 1: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

What risk premium is "normal"?Robert D Arnott; Peter L BernsteinFinancial Analysts Journal; Mar/Apr 2002; 58, 2; ABI/INFORM Globalpg. 64

Page 2: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 3: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 4: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 5: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 6: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 7: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 8: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 9: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 10: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 11: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 12: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 13: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 14: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 15: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 16: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 17: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 18: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 19: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 20: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

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Page 21: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

Page 22: What risk premium is normal? Robert D Arnott; Peter L ...psc.ky.gov/pscscf/2005 cases/2005-00057/Documents on CD/Articles... · Robert D Arnott; Peter L Bernstein Financial Analysts

Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.