In this paper for the Journal of Portfolio Management, Robert D. Arnott, Denis B. Chaves, and Tzee-man Chow examine the interplay that exists between the Shiller P/E ratio and the macroeconomy.
The following insight looks at the evolution of global economies, accounting standards, and changing client demands, and the impact these changes have on the concept of “value.” The paper then looks…
In a maturing phase of the cycle, we think that a focus on quality companies that are able to deliver sustainable earnings growth in the future and that are trading at discount levels, will be key to…
