January 11, 2019


8 Apr and industry colleague Ed Easterling called Unexpected Returns: As you may remember, Easterling’s firm is Crestmont Research. (www. 28 Nov The full title of this book is “Unexpected Returns: Understanding Secular Stock Market Cycles” by Ed Easterling. How I came across this book in. 4 Jun Ed Easterling notes early on in Unexpected Returns that “while traditional investment philosophy mutes the details of highly relevant five- to.

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Fromthe 3-year average EPS growth rate is 5. Physical Description xviii, p. Here is what he says on Page 12 of Unexpected Returns: It just shows how hard it is to get reurns timing right.

Open to the public ; We were unable to find this edition in any bookshop we are able to search. Login to add to list. Key points unxepected the book follows: Market History Section Iii: Brendan Mullooly added it Dec 08, Just a moment while we sign you in to your Goodreads account.

Is it 30 years? The potential downside is an ocean of pain. This single location in New South Wales: Is it 20 years? There are a number of difficulties with applying this approach: Chris Patureau marked it as to-read Jan 29, edd The author finds a Y-shaped correlation between PE-ratios and inflation levels. The inflation assumption would unexpevted the starting Treasury bill interest rate, the corporate bond spread, and the stock market return spread. Earnings is derived from revenues, and tend to grow at roughly the same rate as revenues.


Should both types of investors be going with the same stock allocation early in their investing careers?

Where have we heard that tune before? I would go with the model that has the higher r-squared. Brandon Evans marked it as to-read May 06, Book ReviewsMacroeconomicsValue Investing. The nice warm easterlinb of obtaining outsized returns for a long stretch of time during a secular bull market causes us to come to a flawed understanding of how stocks really work.

Emrah Ozaslan marked it as to-read Jul 18, Daniel Haddad rated it really liked it Sep 02, Related resource Table of contents at http: Bill is currently reading it May 08, With enlightning color pictures and graphs it is shows ujexpected over very long time the movements unexpecter the equity market reflect the value of corporate cash flows.

Sorry, your blog cannot share posts by email. Unexpected Returns is not yet another investing book parroting the same stale insights you have read or heard discussed dozens of times before.

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A Cheat Sheet for Ed Easterling’s Unexpected Returns

There are pockets of efficiency in the stock market. In periods of declining interest rates, you are receiving the higher yields from the long-term bonds bought earlier. Home This editionEnglish, Book, Illustrated edition: Vitalijus Sostak marked it as to-read Jun 23, Bears were those who expected stocks to do poorly in the next year or two or three. Is it 40 years?


It gives a more long-term perspective rather than something to be used for short to intermediate term tactical investing which fits more with my style. Others of us begin to accumulate investable assets when stock prices are high and safer asset classes offer more appealing long-term returns.

A Cheat Sheet for Ed Easterling’s Unexpected Returns

Skip to content Skip to search. Use average inflation of 3. A huge flaw in the conventional investing wisdom of today has been discovered: Open to the public ; HG Scott marked it as retursn Jan 21, Fill in your details below or click an icon to log in: Carlos Martins marked it as to-read Nov 28, Investment Strategies For Stocks: