Harvard Business Review
DECEMBER 10, 2012
"Leverage" is one of the more interesting and difficult concepts to fully grasp in all of finance, but it's important for anyone that borrows or plans to borrow money to understand. The other, on face value, has little to do with control: "the use of credit to enhance one's speculative capacity."
Harvard Business Review
MAY 1, 2017
Our models suggest that by 2025 global financial capital could easily surpass a quadrillion dollars, more than 10 times global GDP. So, in real terms, debt financing is essentially free. And the average long-term ROE is more than 25%, reflecting improved efficiency combined with greater reliance on financial leverage at most companies.
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