"There’s one aspect of MMT that I have some sympathy for: the notion that what we spend money on is far more important than how we finance it." — Cliff Asness
Does the equity risk premium (ERP) vary depending on the term structure? Does reversion to the mean dictate that it will decrease the longer the time horizon?
When it comes to hedging equity risk, bitcoin and cryptocurrencies are less "digital gold" and more fool's gold.
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