Discard CAPM – There Is A Better Way To Think About Cost Of EquityGuest Post
By Erik Kobayashi-Solomon, Managing Director - Framework Investing
The first rule of modern finance – that a dollar today is worth more than a dollar tomorrow – is an elegant first principle that underlies project financing as well as bond and equity investing.
This industry is projected to double in size from $22 billion to an estimated $44 billion
However, in equity investing, the tactical implementation of this elegant principle – the rate used in discounted cash flow . . .
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