而如果是,谁将长期收益于此?
因此,这个模型缺少可能随之而来的长期收益。
我看到了经理人“共担风险”和长期收益之间的相互关联。
I have seen a correlation between a manager having significant "skin in the game" and long term performance.
The title of the book, Stocks for the Long Run-- stocks always outperform other investments for the long run and he says it's not due to selection bias.
书名是为《股市长线法宝》,长期投资中股票总是比其他资产有更高的收益,他认为他在研究中排除了选择性偏差
long run payoffs are greater if you choose Beta every time.
每次都选β的长期的收益会更大
So, ownership of stocks absolutely crushes buying bonds -almost 16,000 times your money or more than 3,000 times your money in the stock market as opposed to 72 times your money or 19 times your money in the bond market or the bill market.
股票的收益率远远超过债券,小盘股的收益差不多16000倍于本金,而大盘收益也翻了300倍以上,相比长期债券的72倍,和短期债券的19倍
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