Zweig Takes Down Siegel; Wal-Mart Opens in India
Two stories worthy of a few minutes:
First, Jason Zweig, author of Your Money & Your Brain and Weekend WSJ columnist, debunks the research of Jeremy Siegel. In his book Stocks for the Long Run, Siegel traced stock market returns back to 1802 and found that stocks returned 7% (plus inflation) over long periods of time. Much of Dr. Siegel's work has become gospel (we often cite his work here at TMF), but Zweig does not obfuscate his point: The 1802-to-1870 stock indexes are rotten with methodological flaws.
Read it in the article titled "Does Stock Market Data Really Go Back 200 Years?"
Next up is a story from The Washington Post about Wal-Mart's international expansion. The company's first store in India is being met excitement ... although there were negotiations with WMT that will protect local merchants.
Read it in the article titled "India's First Wal-Mart Draws Excitement, Not Protest."
-Brian Richards (no stake in WMT)