Research. Reviews. Ideas. Built for investment professionals.
William J. Bernstein
The Paradox of Wealth: Economic Growth Lowers Security Returns (Podcast)
“I’ve always been fascinated by and somewhat skeptical of the connection between economic growth and security returns,” William J. Bernstein says. “When you look at the broad sweep of history, it seems that both the equity risk premium and the risk-free rate have been decreasing over the past couple of centuries.”