AN EXAMINATION OF THE YIELDS OF CORPORATE BONDS AND STOCKS - COMMENT AND REPLY

NORGAARD USES U.S. DATA FOR THE PERIOD 1926-1969 TO REJECT THE HYPOTHESIS THAT THE HIGHER MEAN YIELD OF STOCKS IS OFFSET BY THE LOWER VARIANCE OF YIELDS OF BONDS. HE CONCLUDES THAT NEITHER A BOND PORTFOLIO OR A MIXED PORTFOLIO IS APPROPRIATE FOR THE INSTITUTIONAL INVESTOR. MC CALLUM MAKES 2 POINTS R...

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Veröffentlicht in:	The Journal of finance (New York) 1977-03, Vol.32 (1), p.203
Hauptverfasser:	McCallum, John S, Norgaard, Richard L
Format:	Artikel
Sprache:	eng
Schlagworte:	Bond portfolios Bonds Corporate Securities analysis Stocks Yield
Online-Zugang:	Volltext
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