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Excess Returns
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The Power of Private Markets
Most people in the Robinhood era want those returns today. The problem is most of us can't hold them that long or long emotionally. If you held Apple since the 80s, it declined by 75% in every decade, except for 2010s. In Amazon, my God, media loves to talk about that. That sucker is declined by 95% at one point. And so this applies to small caps and micro caps too.
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