A “DURATION” FALLACY

The Theory of Investment Value, by John Burr Williams

1939 • 667 citations

The Theory of Investment Value.

1939 • 551 citations

From ‘Some Theoretical Problems Suggested by the Movements of Interest Rates, Bond Yield, and Stock Prices in the United States Since 1856’

2017 • 551 citations

Coping with the Risk of Interest-Rate Fluctuations: Returns to Bondholders From Naïve and Optimal Strategies*

2017 • 290 citations

Coping with the Risk of Interest-Rate Fluctuations: Returns to Bondholders from Naive and Optimal Strategies

1971 • 266 citations

Bond Price Volatility and Term to Maturity: A Generalized Respecification

2017 • 123 citations

Expectations, Bond Prices, and the Term Structure of Interest Rates

1962 • 100 citations

Macaulay's Duration: An Appreciation

1973 • 68 citations

Some Theoretical Problems Suggested by the Movements of Interest Rates, Bond Yields and Stock Prices in the United States Since 1856.

1938 • 65 citations

A Model for the Determination of Firm Cash Balances

1966 • 51 citations

The Generalized Rate of Return

1966 • 40 citations

EXPECTATIONS, PRICES, COUPONS AND YIELDS

1970 • 33 citations

CORRECTING THE YIELD CURVE: A RE‐INTERPRETATION OF THE DURATION PROBLEM

1974 • 21 citations

[The Structure of Interest Rates]: A Reply

1964 • 5 citations