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Investor News
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Former Renowned Actuary Develops Evaluation of Stock Market Sentiment
Article Editor: Christopher Laird Simmons
NAPLES, FL - November 10, 2004 /Send2Press Newswire/ -- William A. Halvorson, former President of both the American Academy of Actuaries and Society of Actuaries and founder and manager of Halvorson Research Associates, LLC (HRA) has developed a measurement of stock market sentiment. The measurement index, called the Over-Priced/Under-Priced (OUP) Index, shows the comparison of the actual price per share of over 800 publicly traded companies over time against their theoretical market price. These companies, representing approximately 75% of the market value of all companies, are equally weighted in this cumulative index.
It is calculated by developing each company's theoretical price using HRA proprietary formulas that take into account interest rates, investor's rate of interest, actual earnings growth rates and projected earnings. These theoretical prices are then tracked over time to calculate standard deviations of the ratios between the actual price and their theoretical price. A standard deviation between zero and +1 shows market optimism. A standard deviation between +1 and +2 shows greed is present in the market place. When the standard deviation is between zero and -1, we have pessimism; when between -1 and -2, we have market fear.
HRA developed this market sentiment measurement after the stock price meltdown in 1987 and has calculated this index ranging from September 1986 to today. The OUP index is calculated and published every 2 weeks at Halvorson's website, http://www.hrastockpicks.com/pages/OverUnder.htm, and is available free of charge.
HRA does not consider the OUP chart capable of predicting market movements but rather can be used by the investor to evaluate investment risk.
"HRA has published and mailed this information to subscribers over the past 12 years," said William Halvorson, "and we are excited to enable the Internet as a useful tool for investors to access it."
Halvorson Research Associates has managed three investment partnerships since 1992. Halvorson Research Associates, LLC is a newly formed limited liability corporation based in Naples, FL.
Organization Website:
hrastockpicks.com/pages/OverUnder.htm
Source of News:
Halvorson Research Associates, LLC (HRA)
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References:
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