The Meb Faber Show | 4 April 2018 | 0h 53m | Listen Later  | iTunes
Interview with Elroy Dimson describing his research that led to the book Triumph of the Optimists: 101 Years of Global Investment Returns, which assembled very long-term stocks and bonds indices for world markets. Discusses the lack of correlation between economic growth and stock market performance. Includes a lesson in finance: real yields today, the Gordon Model, the multiple people are willing to pay today (which is higher), and the takeaway that high valuations are a reflection of today’s low real interest rates.