I fear that Wilshire's model, like virtually every economic model in use, conceives of money as the independent variable, when in fact it must always be the dependent one.
Tuesday, March 16, 2010
Sustainable Return on Investment?
I read in the paper this morning that CalPERS' consultant thinks the fund's ROI will average 7.84% during the next decade. But a model is only as good as its assumptions.
Sunday, March 7, 2010
Big Business vs. Small Governments
Republicans like to pretend that government is all bad. But business is certainly not all good.
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