investing
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This article explores the idea that changes in the market implied duration are driven by the Fundamental Evolution. Observable changes in company fundamentals may provide early signals of structural changes in market-implied duration of tech stocks. Duration can be understood as the weighted average arrival time of expected future cash flows, or equivalently, the sensitivity…
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Are we, as long-term investors, contributing to market predictability? If you’ve ever experienced the Chinese college entrance exam – Gaokao, and attended a boarding school, you’ll know how important a predictable schedule can be. Every day at 7 am, cheerful music plays through every dormitory, echoing down the halls and nudging everyone to wake up.…
Photon Research 