Subject: Re: Price and BV history
Just one more comment about price and BV. Most of you will remember that John Kish posted estimated IVs from Dec 1981 to Dec 2014. He used both discounted cash flow and two-column. The IVs from both models track BV extremely well, with r^2 above 0.99, even though BV is not used in his IV calculations. This is further evidence that IV tracks BV extremely well.