“Asset prices should equal expected discounted cashflows. Forty years ago, Eugene Fama (1970) argued that the expected part, ‘testing market efficiency,’ provided the framework for organizing asset-pricing research in that era. I argue that the ‘discounted’ part better organizes our research today. “I start with facts: how discount rates vary […]
Daily Archives: May 25, 2024
4 posts
When we asked many of you, “What are you most excited for at Devcon4?” most people replied: the people! This is the one time a year we all get together in one place. We don’t want to spend all of our time at Devcon sitting in a dark room, staring […]
Joachim Klement, CFA, is the author of Geo-Economics: The Interplay between Geopolitics, Economics, and Investments from the CFA Institute Research Foundation. In response to its invasion of Ukraine, Russia has been targeted with severe economic sanctions. How impactful will they be? We have yet to see a serious, data-driven analysis. […]
We’ve been hard at work getting to know so many amazing people and projects, and are extremely excited to announce the recipients of the Wave III of the Ethereum Foundation Grants Program! We kicked off 2018 with a blog post to galvanize scalability research for first and second-layer solutions. Since […]
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