Skip to main content

Main menu

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JPM
    • Awards
    • Editorial Board
    • Published Ahead of Print (PAP)
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

User menu

  • Sample our Content
  • Request a Demo
  • Log in

Search

  • ADVANCED SEARCH: Discover more content by journal, author or time frame
The Journal of Portfolio Management
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Sample our Content
  • Request a Demo
  • Log in
The Journal of Portfolio Management

The Journal of Portfolio Management

ADVANCED SEARCH: Discover more content by journal, author or time frame

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JPM
    • Awards
    • Editorial Board
    • Published Ahead of Print (PAP)
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter
Primary Article

Valuation Ratios and the Long-Run Stock Market Outlook

John Y. Campbell and Robert J. Shiller
The Journal of Portfolio Management Winter 1998, 24 (2) 11-26; DOI: https://doi.org/10.3905/jpm.24.2.11
John Y. Campbell
Professor of economics at Harvard University (MA 02138).
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
Robert J. Shiller
Professor of economics at Yale University (CT 06520).
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
Loading
PDF extract preview

This is a PDF-only article. The first page of the PDF of this article appears above.

Don’t have access? Click here to request a demo

Alternatively, Call a member of the team to discuss membership options

US and Overseas: +1 646-931-9045

UK: 0207 139 1600

Log in using your username and password

Forgot your user name or password?
PreviousNext
Back to top

Explore our content to discover more relevant research

  • By topic
  • Across journals
  • From the experts
  • Monthly highlights
  • Special collections

In this issue

The Journal of Portfolio Management
Vol. 24, Issue 2
Winter 1998
  • Table of Contents
  • Index by author
Download PDF
Article Alerts
Sign In to Email Alerts with your Email Address
Email Article

Thank you for your interest in spreading the word on The Journal of Portfolio Management.

NOTE: We only request your email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. We do not capture any email address.

Enter multiple addresses on separate lines or separate them with commas.
Valuation Ratios and the Long-Run Stock Market Outlook
(Your Name) has sent you a message from The Journal of Portfolio Management
(Your Name) thought you would like to see the The Journal of Portfolio Management web site.
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Citation Tools
Valuation Ratios and the Long-Run Stock Market Outlook
John Y. Campbell, Robert J. Shiller
The Journal of Portfolio Management Jan 1998, 24 (2) 11-26; DOI: 10.3905/jpm.24.2.11

Citation Manager Formats

  • BibTeX
  • Bookends
  • EasyBib
  • EndNote (tagged)
  • EndNote 8 (xml)
  • Medlars
  • Mendeley
  • Papers
  • RefWorks Tagged
  • Ref Manager
  • RIS
  • Zotero
Save To My Folders
Share
Valuation Ratios and the Long-Run Stock Market Outlook
John Y. Campbell, Robert J. Shiller
The Journal of Portfolio Management Jan 1998, 24 (2) 11-26; DOI: 10.3905/jpm.24.2.11
del.icio.us logo Digg logo Reddit logo Twitter logo Facebook logo Google logo LinkedIn logo Mendeley logo
Tweet Widget Facebook Like LinkedIn logo

Jump to section

  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
  • PDF (Subscribers Only)

Similar Articles

Cited By...

  • The Best of Both Worlds: Forecasting US Equity Market Returns Using a Hybrid Machine Learning-Time Series Approach
  • Tactical Asset Allocation with the Relative Total Return CAPE
  • Modelling the Shiller CAPE Ratio, Mean Reversion, and Return Forecasts
  • How Long Is Long Enough?
  • The Golden Variable?
  • Increasing Risks, Costs, and Retirement Income Inequality
  • Using CAPE to Forecast Country Returns for Designing an International Country Rotation Portfolio
  • How Good Is Tactical Asset Allocation Using Standard Indicators?
  • Active Management in Defined Contribution Plans
  • Ultra-Simple Shillers CAPE: How One Years Data Can Predict Equity Market Returns Better Than Ten
  • Using the Volatility Risk Premium to Mitigate the Next Financial Crisis
  • Utilizing Low-Volatility Assets to Mitigate Sequence Risk in Retirement Investing
  • Valuation Bias and Limits to Nudges
  • Stocks, Bonds, and Causality
  • Scaling and Adaptive Asset Allocation
  • Carry-Based Expected Returns for Strategic Asset Allocation
  • When to Own Stocks and When to Own Gold
  • A Prognostic Yield Measure for Country Selection in the Medium Term Using Shillers PE
  • Practical Applications of Improving U.S. Stock Return Forecasts: A "Fair-Value" CAPE Approach
  • Predicting Stock Market Crashes in China
  • The Promises and Pitfalls of Factor Timing
  • Improving U.S. Stock Return Forecasts: A "Fair-Value" CAPE Approach
  • King of the Mountain: The Shiller P/E and Macroeconomic Conditions
  • When Do PE Ratios Matter?
  • Does Past Performance Matter in Investment Manager Selection?
  • The Golden Constant
  • Uncloaking Campbell and Shillers CAPE: A Comprehensive Guide to Its Construction and Use
  • Buy and Hold Versus Timing Strategies: The Winner Is ...
  • Es-cape-ing from Overvalued Sectors: Sector * Selection Based on the Cyclically Adjusted * Price-Earnings (CAPE) Ratio
  • When to Sell Apple and the Nasdaq? Trading Bubbles * with a Stochastic Disorder Model
  • Dividend-Price Ratios and Stock Returns: International Evidence
  • Which Component of Treasury Yields Belongs in Equity Valuation Models? An Application to the S&P 500
  • Dividend-Price Ratios and Stock Returns: * Another Look at the History
  • Evidence in Support of Shorter-Term * Market Timing
  • Tobins q versus CAPE versus CAPER: Predicting Stock Market Returns Using Fundamentals and Momentum
  • Stock Return Expectations and P/E10
  • Remarks on the Calculation of Earnings in the S&P 500 Index
  • The Equity Premium Puzzle and the Federal Reserves Stock Valuation Model
  • Google Scholar

More in this TOC Section

  • If You Had Everything Computationally…
  • Corporate Bond Portfolio Analysis
  • The Symmetric Downside-Risk Sharpe Ratio
Show more Primary Article
LONDON
One London Wall, London, EC2Y 5EA
United Kingdom
+44 207 139 1600
 
NEW YORK
41 Madison Avenue, New York, NY 10010
USA
+1 646 931 9045
pm-research@pageantmedia.com
 

Stay Connected

  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

MORE FROM PMR

  • News
  • Awards
  • Investment Guides
  • Videos
  • About PMR

INFORMATION FOR

  • Academics
  • Agents
  • Authors
  • Content Usage Terms

GET INVOLVED

  • Advertise
  • Publish
  • Article Licensing
  • Contact Us
  • Subscribe Now
  • Sign In
  • Update your profile
  • Give us your feedback

© 2022 Pageant Media Ltd | All Rights Reserved | ISSN: 0095-4918 | E-ISSN: 2168-8656

  • Site Map
  • Terms & Conditions
  • Privacy Policy
  • Cookies