Need new variable for annualized returns

[Astounding]

It was a good year, but it shouldn't be that good.

Calculations come out to 91.8%

Questions to consider:

• Is this the first ticker/year in the data?  (If not, what was in the observation just prior to this?)
• Are the RET values verified from the SAS data set, vs. from another source that was imported into SAS?  There might be a need to verify what is in the SAS data set for those months.

[sastuck]

How can I use this code to calculate the geometric mean of the monthly values instead? (which takes several values and multiplies them together and sets them to the 1/nth power). Thanks for the help!

[Astounding]

If memory serves, we never adjusted the program for tickers that did not end with a valid value in month 12.  That should be added in where the current statement reads:

if month=12;

That should become:

if month=12 or last.ticker;

This wouldn't affect the first ticker.  While it's hard to imagine a ticker coming before AA, I believe Agilent (A) comes before Alcoa (AA).