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4min chapter
Beware of Survivorship Bias When Investing
Money For the Rest of Us
Are We All in on the US Stock Market?
Smil refers to the inertia of large complex systems and that that is due to its basic energy and material demands. He pointed out that renewable energy, the supply, has risen 50 fold in the last 20 years. Yet the world's dependent on fossil fuels only went from 87% to 85%. And if you look over time, dividend yields have been fairly static in the US and around the world.
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