Relative Dividend Yield - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Relative Dividend Yield write by Anthony E. Spare. This book was released on 1999-07-08. Relative Dividend Yield available in PDF, EPUB and Kindle. Expert investors Anthony Spare and Paul Ciotti demonstrate the Relative Dividend Yield (RDY) approach that has outperformed the market for more than fifteen years, without the market risk. This comprehensive book covers all aspects of investing and money management, while providing you with the proven advice you need to calmly navigate the rough waters of investing. In addition, Relative Dividend Yield, Second Edition has been completely updated to help you: Compare RDY with other investment methods such as venture capital, emerging growth, large growth,technical analysis, and sector rotators Manage even the largest portfolios with confidence Learn about RDY valuations, including consumer stocks, industrial stocks, utilities, and cyclical stocks Avoid pitfalls and take preventive measures by maintaining a safe dividend level, using a straightforward analytical process, and focusing on quality companies Ascertain the primary characteristics of RDY stock portfolios and find out the connection between RDY and market timing With an exercise on Dow Jones stock selecting included, you owe it to yourself to find out why RDY is on of the best-kept secrets in investing today.
Stock-Market Equilibrium and the Dividend Yield
Stock-Market Equilibrium and the Dividend Yield - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Stock-Market Equilibrium and the Dividend Yield write by Mr.Charles Frederick Kramer. This book was released on 1996-08-01. Stock-Market Equilibrium and the Dividend Yield available in PDF, EPUB and Kindle. Can fundamentals account for the recent performance of the U.S. stock market? The price/earnings ratio is out of line with historical averages, and the dividend/price ratio has recently reached a historic low. These developments and record levels of inflows into mutual funds have led some to conclude that stock prices are above their fundamental levels. This paper assesses the recent rise in the stock market using a model for the equilibrium dividend/price ratio. While economic variables can account for most of the recent fall in the dividend/price ratio, mutual-fund inflows still have some marginal explanatory power.
The Effect of the Relative Tax Treatment of Dividends and Capital Gains on Corporate Valuation and Behavior
The Effect of the Relative Tax Treatment of Dividends and Capital Gains on Corporate Valuation and Behavior - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Effect of the Relative Tax Treatment of Dividends and Capital Gains on Corporate Valuation and Behavior write by John Karl Scholz. This book was released on 1988. The Effect of the Relative Tax Treatment of Dividends and Capital Gains on Corporate Valuation and Behavior available in PDF, EPUB and Kindle.
A Robust Estimation of the Relation between Stock Returns, Size, Dividend Yield and Payout Ratio
A Robust Estimation of the Relation between Stock Returns, Size, Dividend Yield and Payout Ratio - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Robust Estimation of the Relation between Stock Returns, Size, Dividend Yield and Payout Ratio write by Ian D. McManus. This book was released on 2002. A Robust Estimation of the Relation between Stock Returns, Size, Dividend Yield and Payout Ratio available in PDF, EPUB and Kindle. We examine the relationship between Returns and Dividends in the context of the UK Stock Market, using data from the LBS London Share Price Database (LSPD) and using robust estimation (GMM). We also introduce earnings-related data into our analysis, using Payout Ratio as a carrier of this additional information. We find that the introduction of the additional variable has a considerable effect upon the inferences which would otherwise have been drawn from a study of Dividend Yield in the absence of such earnings information.Our methodology allows for the establishment of a distinct category for Zero-Dividend stocks (as distinct from those stocks which are merely low-yielding). This allows us to examine in more detail the particular returns characteristics of this class of stocks, which has more in common (in terms of Returns performance) with the high-yielding, rather than the low-yielding subdivision of dividend-paying stocks.Because of the implicit relationship (in terms of a joint distribution) between the dividend payment characteristics of firms and their size, we use an improved measure of Market Capitalisation (relative to that posted explicitly in the LSPD) in order to convey size information into our regressions. This allows for improved resolution, both in terms of the magnitude of the firm size variable, and also of its sampling frequency. Our analysis also accounts for the more complex seasonal behaviour apparent in UK returns characteristics.Our study proceeds from an initial survey of 'raw' (non risk-adjusted) returns for our system of 30 portfolios (6 Dividend Yield subdivisions x 5 Size subdivisions), followed by the introduction of risk adjustment on both an individual (portfolio) and category (Dividend Yields; Market Capitalisations) basis. This leads to a more complete model specification which allows for both categorical and interaction variables in order to separate and identify the various influences at play in determining returns behaviour.We conclude that the inclusion of Payout Ratio is an important adjunct to Dividend Yield in explaining Returns; indeed, our subperiod analysis revealed that, in many instances, the former seems to dominate the latter. Because of this, we deduce that Payout Ratio may convey additional signalling information, over and above that of Dividend Yield alone, for investors.
New Era Value Investing
New Era Value Investing - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook New Era Value Investing write by Nancy Tengler. This book was released on 2003. New Era Value Investing available in PDF, EPUB and Kindle. A unique guide that combines the best of traditional value theory with an innovative approach to assessing value in low or non-dividend paying stocks In the 1990s, America's focus on productivity and innovation led to huge gains in technology, communication, and healthcare stocks, and contributed to the transformation of the U.S. stock market from a value (dividend-paying orientation) to a growth (nondividend-paying) bias. During this time, forward thinking value managers began to develop analytical tools for valuing nondividend paying stocks. These tools allowed them to evaluate and identify the best investments in both traditional and nontraditional value sectors. At the forefront of this movement was author Nancy Tengler who, along with Noel DeDora, developed "Relative Value Discipline," an approach-which combines two proven methods for valuing growth stocks: Relative Dividend Yield and Relative-to-Price Sales. The combination of these approaches allows individuals to invest across the investment universe regardless of dividend policies. New Era Value Investing introduces the proven method known as Relative Value Discipline by combining the excitement of developing a new investment discipline with the lessons learned through the application of this new methodology in the real world. In addition to providing an insider's look at an investment manager's experience in adopting a new investment approach, this book creates a context for understanding the transformation of the U.S. economy, and offers expert insights beyond those of traditional value theory. Nancy Tengler (San Francisco, CA) is President and Chief Investment Officer of Fremont Investment Advisors. She is coauthor of "Relative Dividend Yield: Common Stock Investing for Income and Appreciation" (Wiley: 0-471-53652-0). She has appeared on numerous financial radio and television programs, including CNN/fn and is frequently quoted in financial publications such as "The Wall Street Journal."
