Tag: stocks
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The brief’s key findings are: To assess whether stocks are overvalued, analysts often compare stock prices to companies’ cyclically-adjusted (10-year average) earnings. Today’s ratio of stock prices to cyclically-adjusted earnings appears high, which has often signaled a pending fall in prices. However, cyclically-adjusted earnings are unusually low right now because they include two recessions. As…
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Abstract Using data on all employees at listed companies in Taiwan, we find that the bias toward employer stocks is generic to individual investor decision-making, but not limited to retirement plans. 71 percent of sample employees invest in employer stocks and the employer stocks make up on average 47 percent of employee equity portfolios. T…