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| Tekijä: | Dreman, D. |
| Otsikko: | Bubbles and the Role of Analysts' Forecasts |
| Lehti: | Journal of Psychology and Financial Markets
2002 : VOL. 3:1, p. 4-14 |
| Asiasana: | REVIEWS CONFERENCES ANALYTICAL REVIEW |
| Kieli: | eng |
| Tiivistelmä: | The paper presents the part of the recorded proceedings of the June 2001 conference. Mr. David Dreman presented a historical perspective into the tremendous overvaluations of this era and the analysts' role in this bubble. He considered that was originally presented to a Kemper Funds conference in November 1999, and was updated to May 24, 2001. This shows the stocks in the Internet bubble. You can see the drop in prices since the November date. Ebay, for example, has a price of 67 and a modest price ratio of 1930 times earnings, which he thinks would mean it earned about one-twentieth of 1 percent on its capital every year. So it would take a while to get the authors' money back. |
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