Excess Returns - Frederick Vanhaverbeke - książka wyd. 2014

Opis

Excess returns are the return earned by a stock (or portfolio of stocks) and the risk free rate, which is usually estimated using the most recent short-term government treasury bill. For example, if a stock earns 15% in a year when the U.

S. treasury bill earned 3%, the excess returns on the stock were 15%-3% = 12%.