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Jake - - -
Oct 29 10:58 am
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All Comments by John Lounsbury »Dow Jones: Predictive Value of Inflation Adjusted Averages [View article]
Very interesting article but I found it hard to follow. Inflation adjustment of investment returns is an interesting subject. I published a feature article on how inflation adjustment could be used to determine when stock market averages were over-valued or under-valued in the AAII Journal, February, 1996. My conclusion was that, at the end of 1995, stocks were undervalued. A number of readers expressed strong disagreement, with both the methodology and the conclusions, but were not able to convince me or the AAII Journal editors that the analysis was flawed.
I have not done a follow-up study to see how the analysis would fare extended to 2008. It would be interesting and maybe I'll get to it.