1. How is raising money in U.S. stock markets more difficult than in the rest of the world? Even if productivity growth has risen, in order to justify the higher dividend growth assumptions necessary to justify the current valuation of the US equity market, one has to assume that, for some reason, return on equity can remain sustainably so high. On Wall Street, it is indeed fashionable to point to the current high ROE as …showed first 75 words of 1669 total…

…showed last 75 words of 1669 total…G. and Cohen, A.J. (1998), 'EVA[R] and valuation of the S&P', Goldman Sachs, US Portfolio Strategy 3.Greenspan, A. (1998a), 'Is there a new economy?', Speech at the Haas Business Faculty Research Dialogue, University of California, Berkeley, 4 September. 4.Sichel, D. E. (2003), The Computer Revolution: An Economic Perspective, Brookings Institution. 5.Siegel, J. J. (1998), Stocks for the Long-run, 2nd edn, New York, McGraw-Hill. 6.Zuckerman, M.B.(1981), 'A second American century', Foreign Affairs, 77, 3, pp. 18-31.