Triumph of the optimists Elroy Dimson, Mike Staunton, Paul Marsh
Publisher: PUP

€I'm sorry,” he apologized afterward, “I was just messing with you.” At some point there's going to be a triumph, and that triumph validates everything they do.” None of this will come as news to 403(b) advisors. At the very least, this [book] suggests that the recent blind adherence to the cult of the equity needs to be questioned and that the strategic weighting of bonds in institutional portfolios should be increased. The empirical data yield an estimate of ?=2.3 for the loss aversion index. [Triumph of the Optimists: 101 Years of Global Investment Returns, 2002 (Princeton University Press)]. The average return during the entire 20th century was 10.1%, according to "Triumph of the Optimists," a study of investment returns by Elroy Dimson, Paul Marsh and Mike Staunton. When I couldn't come up with the answer he was looking for, he jokingly told me not to go into sales. AFAIK the Triumph of the optimists book also based on Credit Suisse Global Investment Returns Yearbook by London Business School. The world stock index is a weighted average of the returns provided in 17 developed market countries. The optimists believe that the moment, there are no victories to had, so best put the shutters up and hunker dow until the political spring arrives. At the last NTSAA 403(b) Summit in Las Vegas, one of the speakers put me on the spot. Title:Triumph of the Optimists: 313 Years of Global Investment Returns Author:Elroy Dimson, Paul Marsh, Mike Staunton Publisher:Princeton University Press ISBN:1693193963. Only Optimists Need Apply Advance Look. This is how world assets are defined in Dimson, Marsh, and Staunton's Triumph of the Optimists.