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The Relationship Between Discount Rate and Long Term Stocks
On days where long-term bonds sell off hard and yield spike, those tend to be days on which the NASDAQ 100 sells off hard as well. So I think on an intraday basis or a one-day basis, one-day return basis, they're very correlated. But you're saying that on a longer-term basis, the fact that the yield is at 2% versus 1.5% doesn't affect the long-term return potential.Yeah. Exactly. And definitely true that on day-to-day based, the large capital ... growth stocks do very much respond to movements and interest rates.