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2019 Big Picture Chart
CRSP partners with Investments Illustrated, the leading financial illustration firm, to present a series of charts on long-run risk and return performance.
The 1926 starting point for historical data is a result of the initial study by Chicago Booth Professors Jim Lorie and Larry Fisher found in their seminal research paper Rates of Return on Investments in Common Stock. More information about the development of CRSP can found here.
Expectations in the Cross Section: Stock Price Reactions to the Information and Bias in Analyst-Expected Returns
Evidence shows that the market does not efficiently incorporate expected returns implied by analyst price targets into prices.