Long-Term growth in a Short- Term Market TORIo Eugene F Fama: James D. MacBeth The Journal of Finance, Vol 29, No. 3. Jun, 1974), pp. 857-885 Stable url: http://inks.jstor.org/sici?sici=0022-1082%028197406%2929%3a3%3c857%03algiasm%3e2.0.c0%03b2-1 The Journal of finance is currently published by American Finance Association Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.htmlJstOr'sTermsandConditionsofUseprovidesinpartthatunlessyou have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://wwwjstor.org/journals/afina.html Each copy of any part of a jSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission jStOR is an independent not-for-profit organization dedicated to creating and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact support@jstor. org http://www」]stor.org Fri mar3122:38:552006