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2min chapter
Aswath Damodaran on the Future of Business Education
Masters in Business
The Risk-Adjusted Story of Small Cap Stocks
In the middle of the last decade, people decided it would sell better if you sold it as an alpha story. So they told people if you invest in good companies, you will make higher returns. People forget all about the risk story. It becomes an alphas story. And much of it is delivered in the first month of the year, you know, 90% of the January effect. There's something weird going on here, right?
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