Stocks for the Long Run : the Definitive Guide to Financial Market Returns and Long-term Investment Strategies

Technical analysis (Cont.):
randomness of stock prices
and, 291–292, 293i, 294
trending markets and price
reversals and, 294–295
Technology boom of 1999-2001,
320–322
Technology bubble, 167
Telecommunications services
sector:
in GICS, 53
global shares in, 175i, 177
Telefonica, 177
Templeton, John, 65q, 66, 161q
Tennessee Coal and Iron, 47
in DJIA, 39i, 49
Terrorist attacks:
market movements and,
221–223, 222i, 226
of September 11, 2001,
221–223, 222i
Texaco, 54–55, 56i
Texas Co., 55
Thaler, Richard, 17n, 303, 329,
331 n, 332–333, 335
Thatcher Glass, 60i, 62
Theoretical high/low, 296n
Theory of Investment Value
(Williams), 101
Thomson Houston, 57
Time horizons, returns and,
361
Time Warner, 176
Titman, Sheridan, 302
Tobin Q, 117–119, 118i
Tootsie Rolls, 64
Total, 177, 184
Total return, defined, 5
Toyoda, Sakichi, 183
Toyoda Loom Works, 183
Toyota Motor Corporation, 58,
176, 183
Trading, informed, 349–350
“Trading Is Hazardous to Your
Wealth” (Barber and Odean),
325
Treasury inflation-protected
securities (TIPS), 115, 361

Trend lines:

caution regarding use to

predict future returns,

41–42

in DJIA, 40–42, 41i

Trends, technical analysis and,

294–295

Triple witching hour, 260–261

Triumph of the Optimists: 101

Years of Global Investment

Returns(Dimson, Marsh, &

Staunton), 18, 20

Tuna, Irem, 108n

Tversky, Amos, 322–323, 328, 330

Twain, Mark, 305q

200-day moving-average, 295,

296–297, 298i, 299–300, 299i

distribution of gains and

losses and, 301–302, 301i

UBS, 175

Uncertainty, 226–227

Underfunding, of defined

benefit plans, 106

Unemployment rate, 242

Unilever, 47, 177

Union Carbide, 56i, 58

Union Electric Co., 48

Uniroyal, 49

United Kingdom, end of gold

standard in, 9, 10i

United States:

annual real return in, 20

employment statistics for,

237–238

end of gold standard in,

9–10, 10i, 188–189, 192–193

global market share of, 179,

179 i, 180i

gold as backing for currency

of, 193–194

political parties in, market

movements and, 227–228,

228 i–230i, 230

sector allocation and, 175i,

177

uncertainty about president

in, 226–227

U.S. Food Products Corp., 48

U.S. Leather Corp., 47

in DJIA, 38

U.S. Leather Pfd., in DJIA, 39i, 49

U.S. Rubber, 47

in DJIA, 39i, 49

U.S. Steel Corp., 47, 49, 56i, 57,

58

USX Corporation, 57

USX-U.S. Steel Group, 49

Utilities sector:

in GICS, 53

global shares in, 175i, 177

Utility, 322

Valuation, 144–145

valueversusgrowth stocks

and, 144–145

Value Line Index, 47n, 256

Value stocks, 362–363

growth stocks versus,

144–145

nature of, 157

Value-weighted indexes, 42–45

(See alsoCenter for Research

in Security Prices [CRSP]

index; Nasdaq Index;

Standard & Poor’s [S&P]

index)

Valuing Wall Street(Smithers

and Wright), 117

Vanguard 500 Index Fund, 263n

Vanguard Institutional Index

Fund Plus, 351n

Vanguard S&P 500 Index funds,

351

Van Strum, Kenneth S., 80n

Verizon, 177

Vesting, 106

Viceira, Luis M., 35n

Vietnam War, 233

bear market and, 85

Virginia Carolina Chemicals,

60 i, 63

Vishny, R., 326n

VIX Index, 281–282, 282i, 334

Vodafone, 177

Volatility (seeMarket volatility)

Index 379