December 3, 2012

Long-Term Investing: An Optimal Strategy in Short-Term Oriented Markets

Paper Presentation III: “Natural Expectations, Macroeconomic Dynamics, and Asset Pricing,” (Fuster, Herbert & Laibson, 2011)

  • David Laibson, Robert I. Goldman Professor of Economics, Harvard University


  • William Goetzmann, Edwin J. Beinecke Professor of Finance and Management Studies, Yale University
  • Jan Svejnar, James T. Shotwell Professor of Global Political Economy, School of International and Public Affairs, Columbia University

David Laibson explored the impact of under-estimating long-term mean reversion, demonstrating the effects on asset pricing, consumption and excess returns.

Read the transcript of this event: Laibson, Goetzmann, Svejnar, Natural Expectations

Part of the Sustainable Investment research initiative.