Using historical data from 1926 to 2002, the article shows that for investors with very long horizons,(longer than 25 years), stocks were safer in the U.S. than government bonds. For investors with shorter horizons, both stocks and bonds were exposed to substantial risks, and stocks did not...

This study examines the ability of interest rates, as measured by Treasury bill yields, to track expected monthly, quarterly and annual returns in the Sri Lankan stock market during the 1990-97 period. Different from the findings in most prior studies on foreign markets, the results indicate a...