Jeremy Siegel
American economist
Jeremy Siegel
Jeremy James Siegel is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania in Philadelphia, Pennsylvania. Siegel comments extensively on the economy and financial markets: he appears regularly on networks such CNN, CNBC and NPR, and writes regular columns for Kiplinger's Personal Finance and Yahoo! Finance.
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Jeremy Siegel Still Bets on Stocks for the Long Run
Wall Street Journal - over 1 year
Review of Books by Jeremy Siegel and Jason DeSena Trennert Siegel, a Wharton professor, urges investors to pick stocks for the long run. Trennert’s Wall Street life is that of outsider who made it. Jeremy Siegel Still Bets on Stocks for the Long RunEdited by Gene Epstein The fifth edition of the fabled Wharton professor’s well-argued book adds chapters on the lessons of the 2008 financial crisis and behavioral finance.
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Wall Street Journal article
Bulls happy thanks to Yellen?
Fox Business News - about 3 years
Wharton professor Jeremy Siegel says Janet Yellen’s nod to flexibility is a good sign to investors.
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Fox Business News article
CHART: Here's How The Stock Market Has Been Correlated To Everything Else Since 1965
Business Insider - about 3 years
A diversified portfolio is one that consists of uncorrelated assets.  In other words, these are assets that don't move hand-in-hand all of the time.  Diversification reduces volatility. It's important to recognize that correlations are not static. During periods of panic, correlations increase as investors and traders buy and sell stuff almost indiscriminately.  And that's not the only thing that causes correlations to evolve. The chart below comes from a recent presentation given by Wharton finance professor Jeremy Siegel, author of Stocks For The Long Run. It shows the changing correlation between the S&P 500 and six other asset classes since 1965. There are a few interesting things to note. EAFE is MSCI's index of developed market stocks and EM represents the emerging market stocks. Both have seen correlations approach 1 in recent years.  This likely reflects the growing presence of U.S. companies abroad and vice versa. Gold continues to have a near-zero correlation ...
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Business Insider article
Wharton Has an Image Problem
Huffington Post - over 3 years
What's wrong with Wharton? That was the question posed by the Wall Street Journal last week, and I want to offer an answer. I am not a stereotypical Wharton professor. I don't know what EBITDA stands for, let alone how to pronounce it. I don't follow the stock market. And I've never aspired to be Donald Trump's apprentice. When I joined the faculty in 2009, I was deeply ambivalent. What will an evil empire think of my research on giving and helping others? Will organizational psychology have any legitimacy in a world dominated by cash flows and markets? Many colleagues asked me what I was thinking. One even called me a glutton for punishment, because I'd be the guy studying altruism in the temple of greed. By the end of my first day, it was clear that these stereotypes missed the mark. Sitting in my classroom was the most diverse and impressive group I had ever met. In the four years since, I've had the honor of learning from students ranging from a half dozen Navy SEALs to a pa ...
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Huffington Post article
What countries should investors favor?
CNN - almost 4 years
CNN's Maggie Lake talks to investor and author Jim Rogers and Professor Jeremy Siegel about the global stock markets.
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CNN article
The Death of Bond ETFs? Change Your Fixed-Income Lenses
The Street - about 4 years
NEW YORK (ETF Expert) -- The S&P 500 is above 1500. CBOE S&P 500 Volatility is sitting near 15-year lows. And 88% of iShares S&P 100 component stocks are above respective 200-day moving averages. Normally, you might hear more discussion about complacency and/or an imminent selloff. Instead, you're hearing more about the "Great Rotation" out of bonds and into stocks. In fact, if Laszlo Birinyi or Jeremy Siegel have your ear, we've just barely begun an exuberant stage for equities. Bullish prognosticators certainly do have a mound of evidence to fall back on. Consider the iShares 20-Year Treasury Bond Fund . Its current price is well below short- and long-term trendlines. And the 50-day recently crossed below the 200-day ... a price movement pattern known as a "death cross." (Note: The last "death cross" for TLT occurred more than two years ago.) ... Click to view a price quote on TLT. Click to research the Financial Services industry.
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The Street article
CHART: Here Are The Key Drivers Of US Stock Market Returns Since 1900
Business Insider - over 4 years
Morgan Stanley sent a big note to clients this morning in an attempt to resolve the huge debate sparked by Bill Gross and Jeremy Siegel recently over the relationship between stock market returns and GDP growth. In the note, Morgan Stanley economist Gerard Minack featured a chart breaking down the drivers of stock market returns: dividends, changes in earnings per share, and changes in the price-to-earnings valuation ratio. Minack writes that while both earnings and valuations tend to revert to average levels after periods of outperformance and underperformance, the mean reversion can take a very long time to occur: Several factors can drive a wedge between GDP and equity returns. Exhibit 3 shows a long history of equity returns in the US. The returns are calculated over a rolling ten-year period, adjusted for inflation, and including reinvested dividends. Returns are driven by two factors: dividends and changes in share prices. The change in share prices can be attributed t ...
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Business Insider article
Dicker: Many Happy Returns?
The Street - over 4 years
NEW YORK (TheStreet) -- A recent debate between Wharton Professor Jeremy Siegel and Pimco founder Bill Gross has called into question the "historic" outperformance of stocks compared to every other asset class, and the ability of stocks to keep outperforming in the next decade. Gross is the leader of one of the largest families of asset funds at Pimco. In a nutshell the so-called "Bond King" wrote in his July 31 letter to investors his belief that equities' current return can't be sustained and will be substantially diminished in future. Siegel, who wrote one of the biggest bestsellers in finance, "Stocks for the Long Haul," rebutted a day later on CNBC, restating his belief that, despite some down years, stocks remain good long-term investments. ...
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The Street article
Is buy and hold dying a quick death?
Reuters - over 4 years
CHICAGO, June 29 (Reuters) – Portfolio volatility is your sworn enemy if you’re nearing retirement or market downturns make you nauseous. But if you’re a buy-and-hold investor – and believe that stock market risk diminishes over time – you still need a new course of action. With high-frequency robotic trading, exchange traded funds and global news hitting markets at the speed of light, there’s no reason to believe volatility is going away. Recent research by Lubos Pastor of the University of Chicago and Robert Stambaugh of the University of Pennsylvania confirms this view. In a forthcoming piece in the Journal of Finance, they examined 206 years of stocks returns and confronted the conventional wisdom that stock risk declines over time. “We find that stocks are actually more volatile from an investor’s perspective,” they concluded, citing “uncertainty about future expected returns” as a major factor. The Lubos-Stambaugh paper seeks to refute earlier research by lumi ...
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Reuters article
Faber Vs. Siegel: Bull vs. Super-Bull
Business Insider - over 4 years
Here’s an unusual duo for this version of bull versus super bull.   In an interview on CNBC earlier today, Marc Faber, generally a bear, said he was bullish on equities in the near-term mainly because investors have become too negative. Jeremy Siegel of Wharton, the noted permabull says stocks are long-term attractive.  Now to be clear, Faber’s not that bullish.  In a later part of the interview he said the global economy is entering a recession, China’s experiencing a hard landing, Europe is coming apart at the seams and that corporate profits were likely to get slammed.  But he’s near-term bullish….More via CNBC with full interview below: You won’t often find Marc Faber and Jeremy Siegel taking the same side of an argument, but both market gurus believe that, despite the global turmoil, investors are better off with stocks than government bonds. …Faber, the noted bear and author of the Gloom Boom & Doom report, and Siegel, the bullish Wharton School professor, believe that ...
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Business Insider article
ROBERT SHILLER: Even I Don't Trust The Shiller P/E Ratio
Business Insider - almost 5 years
Everybody knows Robert Shiller as the brilliant economist who predicted the dotcom bubble and then the housing bubble. In new interview with Money Magazine's Penelope Wang, Shiller offers some bad news for stock market investors. Citing his 10-year cyclically-adjusted price-earnings ratio (aka CAPE ratio aka Shiller PE), Shiller estimates that the expected long-run inflation adjusted return on the stock market is just 4 percent. But he warns that even he doubts the predictive power of his namesake ratio. From Money Magazine: A real 4% return seems like a worthwhile investment. Then again, I don't know that I trust that number. It goes back to this whole academic literature on the outperformance of equities. My old friend Jeremy Siegel [Wharton professor and author of "Stocks for the Long Run"] makes the strongest claim about this. He has data going back 200 years showing that the market has had a real 7% return over that period. But there's no solid reason it should do ...
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Business Insider article
Top Dow Jones Stocks For The Next 5 Years - Seeking Alpha
Google News - over 5 years
Jeremy Siegel, from the University of Pennsylvania, Wharton School of Business. In his book "Stocks for the Long-Run," Siegel suggests that the stocks offer more stable real returns than bonds in the long run, thanks to the mean reversion effect
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Google News article
The Extraordinary Power of Sherwin-Williams' Dividends - Motley Fool
Google News - over 5 years
Wharton professor Jeremy Siegel made a wonderful discovery in his book The Future for Investors. The greatest long-term returns typically don't come from the most innovative companies, or even companies with the highest earnings growth
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Google News article
Focus on Dividends, Siegel Says - The Guru Investor
Google News - over 5 years
Wharton professor and author Jeremy Siegel says dividend-paying stocks — not Treasury bills, which he says are back in “bubble” territory — are the place investors should look for yield. “Despite the slow growth over the past decade, US corporations,
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Google News article
Cohen & Steers: Investors Should Seek High-Dividend Stocks - AdvisorOne
Google News - over 5 years
The whitepaper echoes a piece written by Jeremy Siegel, a Wharton professor and frequent industry lecturer, in The Wall Street Journal also on Monday, in which Siegel says dividend-paying stocks, backed by record amounts of cash, are a wise defensive
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Google News article
The Extraordinary Power of PPG's Dividends - msnbc.com
Google News - over 5 years
Wharton professor Jeremy Siegel made a wonderful discovery in his book The Future for Investors. The greatest long-term returns typically don't come from the most innovative companies, or even companies with the highest earnings growth
Article Link:
Google News article
Jeremy Siegel Gives A Positive Stock Market Valuation Argument - Seeking Alpha
Google News - over 5 years
Professor Jeremy Siegel, of Wisdom Tree funds, wrote a logical argument today that deserves consideration. "Does the markdown in growth justify the current sell-off in the equity markets? In my opinion, not at all. Let us make the extremely pessimistic
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Google News article
Timeline
Learn about memorable moments in the evolution of Jeremy Siegel
    LATE_ADULTHOOD
  • 2010
    Age 64
    IPO research firm Renaissance Capital responded to Siegel's and other academics' arguments in a white paper of theirs from 2010, saying that IPOs outperform the broader market when weighted relative to their market cap.
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  • 2007
    Age 61
    He is currently an advisor to WisdomTree Investments, a sponsor of exchange-traded funds, and as of early 2007 owns a 2% share of the $700 million market capitalization company.
    More Details Hide Details He has been a frequent guest on the business TV program Kudlow & Company on CNBC, where supply-side economics fan Lawrence Kudlow hosts. He is a supply-sider like Kudlow. Siegel is also a lifelong friend of Robert Shiller, an economist at the Yale School of Management, whom Siegel has known since their MIT graduate school days. Siegel and Shiller have frequently debated each other on TV about the stock market and its future returns, and have become financial media celebrities, regularly appearing on CNBC.
  • FIFTIES
  • 2000
    Age 54
    In a BusinessWeek interview in May 2000 when asked about the stock market, he replied:
    More Details Hide Details Seven percent per year average real returns on stocks is what I find over nearly two centuries. I don't see persuasive reasons why it should be any different from that over the intermediate run. In the short run, it could be almost anything.
    Some have criticized Professor Siegel for being bullish on the stock market back in 2000.
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  • TWENTIES
  • 1968
    Age 22
    Siegel has said that IPOs typically disappoint. In his The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New (Crown Business, 2005), Siegel analyzed 9,000 IPOs between 1968 and 2003 and concluded that they consistently underperformed a small-cap index in nearly four out five cases.
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  • CHILDHOOD
  • 1945
    Born
    Born in 1945.
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