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Historical Rates of Return Background and Market Institutions
The subject of investments is so interesting that I first want to give you a quick tour, instead of laying all the foundations first and showing you the evidence later. I will give you a glimpse of the world of historical returns on the three main asset classes of stocks, bonds, and 'cash," so that you can visualize the main patterns that matter—patterns of risk, reward, and co variation.
This chapter also describes a number of important institutions that allow investors to trade equities.