PP. xxix–xxxiii Sources of most mutual fund data are Lipper Analytical Services, Inc. and Morningstar Mutual Funds. In a few cases, data are provided by the Investment Company Institute and CDA/Wiesenberger Investment Companies Services.
P. 4 Total returns on cash reserves and common stocks 1872–1925 are from Cowles Commission; total returns on long-term bonds 1872–1925 are from Jeremy Siegel, Professor of Finance, The Wharton School of the University of Pennsylvania. All stock, bond, and bill returns 1926–92 are from Ibbotson Associates.
P. 9 All data on price, reported earnings, and dividends for the Standard & Poor's 500 Stock Index are from Standard & Poor's Corporation.
P. 10 Operating earnings for the companies that comprise the Standard & Poor's 500 Stock Index are from Goldman Sachs.
P. 12 For simplicity, the components of total return are combined using simple addition. The actual formula for combining the components of total return is:
(Initial yield) + [((1 + dividend growth rate) × (1 + multiple change)) − 1]
The results under each method differ marginally.
P. 16 All bond and bill yields are from Ibbotson Associates.
P. 25 Inflation rate 1872–1925 is from the Cowles Commission; inflation rate 1926–92 is from Ibbotson Associates.
P. 49 All data in Table 3–1 are from Upper Analytical Services, Inc. Fund categories determined by The Vanguard Group.
P. 64 Data in Table 3–2 are from Morningstar Mutual ...
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