Hmmm, not sure how this links to the liquidity narrative that is all the rage recently. Sort of goes against it. Also why choose 5 year over 4 year? Does 4 year have some small negative return?
5 year was arbitrary and has negative return in Dec 2022.
4 year does not have negative return but does put us at an all time low CAGR
4 year does not have negative return but does put us at an all time low CAGR
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