Performance à long terme et risques de différents indices actions…

Michael Smolyansky a écrit :

Over the past two decades, the corporate profits of stock market listed firms have been substantially boosted by declining interest rate expenses and lower corporate tax rates. This note’s key finding is that the reduction in interest and tax expenses is responsible for a full one-third of all profit growth for S&P 500 nonfinancial firms over the prior two-decade period. I argue that the boost to corporate profits from lower interest and tax expenses is unlikely to continue, indicating notably lower profit growth, and thus stock returns, in the future.

Possible que les performances futures ne soient pas au même niveau.
Je crois que ce papier de la fed a été cité dans un autre fil, mais il me semble a propos ici.

The coming long-run slowdown in corporate profit growth and stock returns