Managing Expectations & Expected Returns
From The Capital Spectator
November 28, 2012 - 12:23pm
One of the most influential lines of research in financial economics over the past generation has been the "discovery" that asset returns are predictable. The predictability, as documented in the literature, isn't much help to day traders. Instead, numerous studies lay out the empirical case for arguing that a) expected returns fluctuate, and b) they fluctuate with some degree of recurring...
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