Bubbles for Fama
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We evaluate Eugene Famas claim that stock prices do not exhibit price bubbles. Based on US industry returns 1926-2014 and international sector returns 1985-2014, we present four findings: (1) Fama is correct in that a sharp price increase of an industry portfolio does not, on average, predict
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美国国家经济研究局创建时间:
2017-02-01



