Jacques Cesar is a former managing partner of Oliver Wyman. He founded the firm’s retail practice, pricing practice, and co-founded the firm’s big data practice. Cesar held numerous senior management positions and served on the Oliver Wyman global executive committee for 15 years.
While traditional finance’s equity performance models still work, there is an alternative explanation for the long-running secular bull market.
The capital asset pricing model (CAPM) is a marvel of economic scholarship. The problem is that it doesn’t always work in practice. So, we fixed it.
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