http://falkenblog.blogspot.com/2010/11/me-on-risk-return-and-alpha.html
My argument is that risk premiums do not exist within almost all asset classes, therefore, it is a reasonable approximation to say they do not exist in general. This does not mean you should not take risk, merely, that you should take risk for other reasons.
Taking risk: try something, fail, move on!
Bad idea to think that: "I am going to be compenstated merely for taking risk!"
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A little bit confused.
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