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A Feather in the CAPM
Armistice Day, or Veterans Day, is a great time to pause and take stock. The U.S. Treasury market closes for the day, so there’s no risk of hurly burley over inflation and monetary policy. It’s a good opportunity to get out of the short term and look at the very long term, through the lens of one of the most ambitious pieces of research I’ve ever seen. Jacques Cesar of the consultancy Oliver Wyman has spent the last five years working ...
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