Stocks for the Shorter Run? Faculty Conference Call with Finance Prof. Stambaugh
Friday, May 29, 2009
Stocks for the long run?
Are we sure about that?
Despite a recent uptick, stock market investors have suffered deep losses in the past 18 months--and are even now still back at late 1997 levels!--challenging the belief
that stocks are the best long-term investments. Indeed, Wharton Finance and Economics Professor Robert Stambaugh recently coauthored a paper entitled, Are Stocks Really Less Volatile in the Long Run?, which suggests that equities are subject to bigger price swings than previously understood.
The research adds a new perspective to the work of Wharton finance professor Jeremy J. Siegel, author of the book, Stocks for the Long Run, which says stock returns more than offset risks if you stay with the market through its ups and downs.
Join the Wharton Club of South Florida and the Wharton Club of Northern California for a conference call with Professor Stambaugh on Friday May 29th at 3pm EST as he explains why stocks may be more volatile over the long run than we have previously been led to believe. While two hundred years of stock market data have produced a trend line that has led investors to expect 10% average annual returns on stocks, Professor Stambaugh will explain why expecting this trend to continue may be a faulty premise on which to base your long-term investment decisions . . . as well as your retirement hopes and plans!
Date: Friday, May 29, 2009
Time: 3:00pm - 4:00pm EST
Location: Via Conference Call (Dial-in and pass code to be provided the day before the event by e-mail.)
Cost: No charge for current Wharton Club of South Florida members. Registration closes Thursday, May 28th at 4:00pm EST. (Note: although there is no event registration fee for Wharton Club members, "seating" will be limited at this event--please register only if you are confident you'll be able to attend.)
Register: Click here to register or visit http://www.whartonsouthfla.com/.
Professor Robert F. Stambaugh is the Miller Anderson & Sherrerd professor of Finance and Economics at the Wharton School. He has been with Wharton since 1979 and has also taught at the University of Chicago and Harvard University. Professor Stambaugh's areas of research include asset pricing, portfolio theory and econometrics. In the past he has been the editor of the "Journal of Finance" and is currently on the Editorial Committee of the "Annual Review of Financial Economics". His numerous awards include the prestigious Goldman Sachs Asset Management Award.
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