Asset Valuation and Stock Returns

We will start with a review of various approaches to the valuation of assets and consider the most common errors made in applying valuation methods. We then discuss the usefulness of various valuation ratios and what they may tell us, or not tell us, about future stock returns both at the corporate level and at the aggregate level.

Prof. Balvers currently holds the Michael Lee-Chin & Family Chair in Investment and Portfolio Management at McMaster University. He has previously held faculty positions at West Virginia University and the University of Notre Dame. He was born in the Netherlands and obtained his undergraduate education at Tilburg University and a PhD in Economics from the University of Pittsburgh. Prof. Balvers specializes in asset pricing and investments and his research has been published in journals such as the Journal of Finance, the Journal of Financial Economics, Review of Economic Studies, Management Science, International Economic Review, and the Economic Journal.