Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
You know, the future value of money, the present value of money — money today is worth more than in the future because you can invest it and get interest. You’d have this beta with the market, so you have the riskless rate plus beta times the equity premium. And that’s what these guys [the 2013 Nobel winners] did.
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