ARTICLE SYNOPSIS...Determining stock value from price and earnings by Paul T. Holliday The value of stocks and stock indices are generally derived from such fundamentals as earnings and return on investment. The value that investors place on a stock or stock index may als
ARTICLE SYNOPSIS...Modeling The Stock Market by Paul T. Holliday The price/earnings ratio works perfectly well-- for stocks. But, Paul Holliday points out, it doesn't work for stock indices such as the DJIA or the Standard & Poor's 500, where the effective interest rate wo