The most important equation or why Bitcoin has to average 30% return a year to break even with the S&P 500
In the old year, I wrote a piece about ARKK, Bitcoin and co. and showed how dangerous it is for long-term investment success to experience deep drawdowns like the ones we saw since early 2022. There, I said that the long-term result of investments doesn’t depend on returns but on the ratio between returns and volatility. Apparently, there were some read…
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