adjusted to take account of future asset price risk. Some empirical calculations suggest that these adjustments are large, and …

risk factors which affect particular markets …

financial theory holds that equity should be a good inflation hedge since it represents a claim of real rather than nominal …

market risk which the presence of noise traders creates in the assets that they hold: their presence raises expected returns … because sophisticated investors dislike bearing the risk that noise traders may be irrationally pessimistic and push asset … also noise trader risk, the average prices of assets will be below fundamental values; one striking example of substantial …