Stocks, Bonds, Bills, and Inflation (SBBI) Yearbook 2017 ─ U.s. Capital Markets Performance by Asset Class 1926-2016

The latest, most complete data for more informed investment decisions

The 2017 Stocks, Bonds, Bills, and Inflation (SBBI) Yearbook is the industry standard performance data reference, with comprehensive records dating back to 1926. Covering common stocks, long-term government bonds, long-term corporate bonds, Treasury bills, and the Consumer Price Index, this book provides the essential information advisors, planners, and brokers need to analyze asset class performance. Historical return figures include the riskless rate of interest, equity risk premium, bond default premium, and the maturity premium between the return on long-term governments and Treasury bills, and total returns and index values cover large and small company stocks, long- and intermediate-term government bonds, inflation, and more. Charts and graphs allow for quick visual reference, and a clear hierarchical organization pattern facilitates efficient data location.

As the go-to reference for information and capital market returns, this book provides investors with the critical background they need to analyze future investments. With the most complete historical data available, investors will be able to:

• Find annual index levels and total rates of return for five basic asset series
• Access historical return figures for four component series
• Estimate cost-of-capital based on comprehensive, reliable data
• Make informed judgments about future investment opportunities

Performance analysis is critical to successful investing, but the analysis can only be as useful as the data is accurate. Decisions made from scant information are not good investment decisions; investors need complete, top-quality data to make informed choices and properly balance risk with reward. The 2017 Stocks, Bonds, Bills, and Inflation (SBBI) Yearbook is the definitive study of historical capital market data in the United States, and the gold-standard reference industry-wide.

Roger Ibbotson is a Professor in Practice at Yale School of Management. He is also Chairman and CIO of Zebra Capital Management LLC, a global asset and hedge fund manager that focuses on capturing liquidity premiums in equity markets. He is founder, adviser, and former chairman of Ibbotson Associates, now a Morningstar company. He has written numerous books and articles. Ibbotson serves on numerous boards including Dimensional Fund Advisors' funds. He frequently speaks at universities, conferences, and other forums.

Roger J. Grabowski, Managing Director of Duff & Phelps LLC, is a major speaker at conferences and has testified in court as an expert witness on the value of closely held businesses and business interests, matters of solvency, valuation, and amortization of intangible assets and other valuation issues. Roger authors the annual Duff & Phelps Risk Premium Report.

James P. Harrington, Director in the Office of Professional Practice at Duff & Phelps, is an accomplished financial writer and analyst. He provides technical support on client engagements involving cost of capital and business valuation matters, and leads efforts for development of Duff & Phelps' studies, surveys, online content and tools, and internal models.

Carla Nunes, Director in the Office of Professional Practice at Duff & Phelps, provides firmwide technical guidance on a variety of valuation, financial, and tax reporting issues. She has directed multiple valuation assignments for a wide range of industries, including pharmaceutical, biotechnology, healthcare, vitamin retail, specialty chemicals, industrial manufacturing, and gaming and hospitality.