Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Points well taken. Still, I have read that for the U.S. and U.K., "an increasing proportion of the total return on investments since the start of the 1980s has resulted from capital gains rather than earnings, with the former accounting for as much as 75 per cent of total returns—compared with well under 50 per cent (on average) in the 1900-1979 period as a whole." That does suggest that the rise in value has been driven largely by an increasing flow of funds into the market, rather than by the actual income stream produced by the securities.

A bomb, H bomb, Minuteman / The names get more attractive / The decisions are made by NATO / The press call it British opinion -- The Three Johns
by Alexander on Mon Mar 26th, 2007 at 05:13:40 PM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series