Why the Best Investment Decision Is Not Always the One With the Best Numbers
Imponderabilien are the factors that investment calculations leave out. Understanding how to identify and evaluate them can help you avoid…
Investment Analysis
When a Single Discount Rate Stops Making Sense in Investment Analysis
Market-oriented discount rates help investors evaluate projects more accurately when interest rates vary across time. Instead of assuming one constant…
Why Portfolio Theory Works Less Smoothly for Real Investments Than for Securities
Portfolio theory relies on correlations between investments, but real investments often lack the historical data needed to measure those relationships….