For the 50 industrial companies in the S&P index, the ratio of the total market capitalization
to net earnings is 18.4. Aggregate earnings and this price-earnings ratio imply an
estimate for the aggregate market capitalization of 1.62 times GNP. This is slightly higher
than Sloan’s (1936) estimate, which was based on a broader subset of industrial companies.
To compute an estimate of the total market capitalization using all 90 companies in the
S&P composite index, we first construct weights on industrials, railroads, and public utilities
using the entire population of companies in the CRSP database for August 1929....
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APARTMENT LAW IN MALAYSIA BUYING PROPERTIES WITHOUT TITLE : LEGAL POINT OF VIEW
APARTMENT LAW IN MALAYSIA BUYING PROPERTIES WITHOUT TITLE : LEGAL POINT OF VIEW
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