Biomedical Science Research Building

University of Michigan

Ann Arbor

1. The Nature of Markets

2. Is the Fed Model Useful?

3. The Nature of Stock Market Equilibrium (n.b.)

4. Logic and Judgment in Securities Selection and Asset Allocation

5. Asset Allocation: The Consequences of Market Rationality

6. When Stock Prices Are Excessive: Is the Stock Market Rational?

7. Industry Analysis: The Risk Management of Internet Stocks

8. Company Analysis: Valuing Companies within the Context of Markets

9. A Useful Quote

9. Is the Stock Market Overvalued?

The data justify an error correction model of the U.S. stock market that supersedes these following essays. We have retained these essays to illustrate the advantage of having a suitable model when describing a complex phenomenon.

The Nature of Judgment (et seq.)

10.

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