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55 | Chris Schelling | The Psychology of Investing

The Greatness Machine

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The Power of Volatility in Public Equity Markets

Short term returns in public equity markets are really driven by multiple expansion contraction. Earnings yield plus the earnings growth is what drives equity returns over the long run. What this has an S&P does over the next year, a little more predictable, five, 10, 15, 20.

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