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I'm surprised you're getting downvoted. You're absolutely right -- the expectation less fees from holding a stock a short period is equal to the risk-free inter
by kqr 2y ago
I'm surprised you're getting downvoted. You're absolutely right -- the expectation less fees from holding a stock a short period is equal to the risk-free interest rate.
Over longer horizons it gets more complicated because compounding, but it's not obviously in favour of the speculator, even though it has historically turned out that way.
- benreesman 2y agoI’ve been told that I tend to “TED Talk” / lecture, and on re-reading I can see why someone might get that vibe. It isn’t my intention to condescend, I know a bit about this stuff and try to make informative comments when the opportunity arises. Thank you for having my back on the substantial accuracy of the comment.