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Andrew Smithers is founder of Smithers & Co., which provides economics-based asset allocation advice to 70 of the world's largest fund management companies in London, New York, Boston, and Tokyo. He is a columnist for London's Evening Standard and the Tokyo Nikkei Kinnyu ShimbUn Market Eye, and is regularly quoted in the New York Times, Barron's, Forbes, The Economist, The Independent, and the Financial Times. Stephen Wright Studies economics at Cambridge University, where he won the Adam Smith Prize and achieved the highest First Class degree of his year. He spent several years as Chief Economic Forecaster with the Bank of England, where he headed macroeconomic forecasting and the maintenance and development of the bank's quarterly model of the UK economy. He currently is on the Faculty of Economics and Politics at Cambridge University. His work, along with Mr. Smither's, has been cited in the New York Times, Barron's, Forbes, The Economist, and the Financial Times.

Part One: The Case for q. Chapter 1: The Good News and the Bad News About q. Chapter 2: On q. Chapter 3: q and the Long-Term Investor. Chapter 4: q Versus the Competition. Part Two: Stock Market Risk and Return. Chapter 5: The Power of Compound Interest (or How to Oversell Stocks). Chapter 6: The True Impact of Stock Returns. Chapter 7: Stock Market Risks: Some History. Chapter 8: Stock Market Risks: The Impact on Investors. Part Three: q And The Value of Wall Street. Chapter 9: The Meaning of Stock Market Value. Chapter 10: Stock Picking or Aggregate Value? Chapter 11: What Hindsight Tells Us About Stock Market Value. Chapter 12: A Closer Look at q. Chapter 13: What q Could Have Told Investors About Value in the Past. Chapter 14: q as an Investor Tool. Part Four: q And The Future of Wall Street. Chapter 15: The Bad News About Stocks as Investments for the Long Run. Chapter 16: Why q Has Risen, and Why q Will Fall. Chapter 17: The Good News About Stocks As Investments for the Long Run. Part Five: Surviving the Bear Market. Chapter 18: What to Do with Your Money. Chapter 19: What Not to Do with Your Money. Part Six: How to value the Stock Market. Chapter 20: How to Value the Stock Market: Four Key Tests for Any Indicator of Value. Chapter 21: The Dividend Yield. Chapter 22: The Price-Earnings Multiple. Chapter 23: The Adjusted Price-Earnings Multiple. Chapter 24: Yield Ratios and Yield Differences. Chapter 25: Corporate Net Worth and q. Chapter 26: q-Equivalence. Chapter 27: q and the Dividend Discount Model. Part Seven: q And the ANTI-qs. Chapter 28: The q Debate Among Economists. Chapter 29: The Equity Risk Premium and Stock Market Valuations. Chapter 30: The q Debate Among Stockbrokers. Part Eight: q And The U.S. Economy. Chapter 31: Past Falls in q and Their Economic Impact. Chapter 32: The Economic Consequences of Alan Greenspan. Index.