In recent weeks, I have probably OD’ed my readers with philosophical and highbrow topics. Whether it was my Hitchhiker’s Guide to Investment Research or yesterday’s post on the Fiscal Theory of the Price Level. Since this is my last post before my summer break, I wanted to bring it down to earth and do some good old-fashioned testing of investment returns.
To quote your own words: “CAPM has been violated not just once, but hundreds of times.”
https://klementoninvesting.substack.com/p/the-models-that-wont-die
Reminds me of the idiom “A Lie Can Travel Halfway Around the World Before the Truth Puts On its Shoes”
Appreciate your insights as always.
Thanks for all your work. Much appreciated. Enjoy your break.
Nice job. Always interested in long-term historical perspectives.
Happy vacation!