Aaron and his research body built a fake portfolio of what the performance would have been from simply buying more debt of riskier companies, buying more mortgage bonds and rolling down the curve. They mush those three things together, they add in a little bit to account for the overall direction of interest rates,. And tracked the mushed together portfolio through time to see how those factors performed.
Is the key to success in financial markets a matter of luck or skill? One former bond manager shares his strategy: Win big by avoiding winning. | Subscribe to our weekly newsletter
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