T12.1 Chapter Outline

Chapter 12Some Lessons from Capital Market History

Chapter Organization

• 12.1 Returns

• 12.2 The Historical Record

• 12.3 Average Returns: The First Lesson

• 12.4 The Variability of Returns: The Second Lesson

• 12.5 Capital Market Efficiency

• 12.6 Summary and Conclusions

Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc. 1998

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