How much of your portfolio should be in stocks? It's one of investing's most important questions — and the standard answer is costing the average investor the equivalent of 2% of their lifetime consumption. Yale economists have finally built something better, and it fits in a spreadsheet.
A new study shows how equity duration reshaped markets after 1945, making stock-picking harder and strengthening the case for evidence-based investing.
Robin Powell
Sep 14, 20256 min read
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