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#63 Reflections on Investing : Are Investors Creating Wealth or Transferring It?
The ultimate source of wealth from financial investments comes from the transfer of funds to entities that invest in the production of real goods and services.
Conceptual Foundations of Investing: Keynote
#64 Reflections on Investing: Risk
Investor Memo Q4 2024: Valuation, Momentum, and the Risk of a Market Correction
The Implied Equity Risk Premium and Stock Market Bubbles