Stocks for the Long Run : the Definitive Guide to Financial Market Returns and Long-term Investment Strategies
500 by between 80 and 310 basis points per yeardespite the rapid shrink- age of the oil sector relative to the rest of the marke ...
56 PART 1 The Verdict of History TABLE 4–1 50-Year Returns of the 20 Largest Companies in 1957 ...
ranking Phillips Petroleum, merged with Conoco (Continental Oil Co.) to form ConocoPhillips in 2002. The only firm to beat any o ...
stripped-down AT&T was bought by one of its children, SBC Communi- cations, in 2005, and through other acquisitions, it work ...
return on the S&P 500 Index. This return means that $1,000 invested in Philip Morris on March 1, 1957, would have accumulate ...
firms. Many investors became enormously wealthy because the shares of their firms were exchanged with shares of successful compa ...
But in the capital markets, bad news for the firm often can be good news for investors who hold onto the stock and reinvest thei ...
There are similar stories for firms taken from Table 4-3, which lists the 20 best-performing stocks whether they have survived i ...
was founded in 1901 and produced roofing materials. In 1980 an owner- ship stake was bought by Genstar, which was then absorbed ...
About 30 percent of the 125 firms that have been added to the tech- nology sector of the S&P 500 Index since 1957 were added ...
5 CHAPTER THE IMPACT OF TAXES ON STOCK AND BOND RETURNS Stocks Have the Edge In this world nothing is certain but death and taxe ...
John Templeton’s objective to maximize total real return after taxes is an essential investment strategy. And stocks are very we ...
CHAPTER 5 The Impact of Taxes on Stock and Bond Returns 67 FIGURE 5-1 Federal Tax Rates, 1913 through December 2003 ...
ranges for the total real returns on Treasury bonds and the total real re- turns on municipal bonds, which are exempt from feder ...
Despite the debilitating effect of taxes on equity accumulations, taxes cause the greatest damage to the returns on fixed-income ...
dividends and capital gains to 15 percent. Nevertheless, effective taxes on capital gains are still lower than on dividends sinc ...
lose 31 basis points per year compared with the after-tax return that would result if the inflation rate were zero. If the infla ...
There is considerable support, both inside and outside govern- ment, to make some adjustment for inflation in the tax system. In ...
on bonds has also increased as a result of the drop in the tax rates on or- dinary income, the increase in the real return on st ...
qualified dividends, such as REITs and other income trusts, in one’s tax- deferred account to avoid current taxes. However, some ...
«
1
2
3
4
5
6
7
8
9
10
»
Free download pdf