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ost) and forward-looking (ex ante) return data. The ERP used in the analysis was based on the supply-side long-horizon historical ERP as provided in Morningstar's Stocks, Bonds, Bills, and Inflation Valuation Yearbook. Long-term expected equity returns can be forecasted by use of supply-side models, which u
of Taxation, June 1972, pp. 353-54. gcb From Robert E. Moroney, "Most Courts Overvalue Closely Held Stocks," Taxes, March 1973, PP- 144.54- 2 ° From J. Michael Maher, "Discounts for Lack of Marketability for Closely-Held Business Interests," Taxes, September 1976, p. 562-71. 2, From Robert It. Trout, "Estimation
ost) and forward-looking (ex ante) return data. The ERP used in the analysis was based on the supply-side long-horizon historical ERP as provided in Morningstar's Stocks, Bonds, Bills, and Inflation Valuation Yearbook. Long-term expected equity returns can be forecasted by use of supply-side models, which u
of Taxation, June 1972, pp. 353-54. gcb From Robert E. Moroney, "Most Courts Overvalue Closely Held Stocks," Taxes, March 1973, PP- 144.54- 2 ° From J. Michael Maher, "Discounts for Lack of Marketability for Closely-Held Business Interests," Taxes, September 1976, p. 562-71. 2, From Robert It. Trout, "Estimation
ost) and forward-looking (ex ante) return data. The ERP used in the analysis was based on the supply-side long-horizon historical ERP as provided in Morningstar's Stocks, Bonds, Bills, and Inflation Valuation Yearbook. Long-term expected equity returns can be forecasted by use of supply-side models, which u
of Taxation, June 1972, pp. 353-54. gcb From Robert E. Moroney, "Most Courts Overvalue Closely Held Stocks," Taxes, March 1973, PP- 144.54- 2 ° From J. Michael Maher, "Discounts for Lack of Marketability for Closely-Held Business Interests," Taxes, September 1976, p. 562-71. 2, From Robert It. Trout, "Estimation
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