What is the Intrinsic Value of the Dow?

Article Abstract:

An empirical evaluation has been conducted of alternative methods for measuring intrinsic values of the 30 stocks in the Dow Jones Industrial Average (DJIA). The time-series relation between price and value is considered convergent in the long term. Estimates of intrinsic value are evaluated according to relative ability to track price movements over time and to predict market returns.

Economic aspects, Dow Jones Industrial Average (Index)

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Price momentum and trading volume

Article Abstract:

Research is presented linking past trading volume to value and momentum investment strategies. Past trading volume is shown to predict persistence and magnitude of price momentum, and that low past turnover ratios create glamour characteristics, earn low future returns, and display more negative earnings surprises in the successive eight quarters.

Evaluation, Forecasts and trends, Return on investment, Rate of return

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Toward an implied cost of capital

Article Abstract:

A new approach for the estimation of the cost of equity capital is discussed. This new approach is useful for capital budgeting, investment decisions and valuation research.

United States, Capital funds & cash flow, Analysis, Capital investments, Investment management, Equity (Finance), Capital investment

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