Investment Theory in Practice

Aug 1, 2023 J. Bradford DeLong

Although past performance is never a guarantee of future results, it remains the case that stock-market valuations tend to outstrip bonds most of the time. Still, arriving at the best investment strategy is about more than simply doing the math; it also requires an appreciation of history and tail risks.

https://www.project-syndicate.org/commentary/stocks-bonds-weighing-risk-return-in-theory-and-practice-by-j-bradford-delong-2023-08?mc_cid=03464d9fd0&mc_eid=4ddf8a88ec