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In contrast, at the start of 2024, the lifting of fear has led to higher prices, a more upbeat forecast of earnings and an expected return of 8.48% and an equity risk premium of 4.60%. As a percent of earnings, the cumulative cash returned represented 74.8%
The first is the return that can be earned on guaranteed investments , i.e., US treasury bills and bonds, for instance, if you are a investor in US dollar, since it is a measure of what someone who takes no or very low risk can expect to earn.
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