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Session 4 (of 42): Understanding Risk III: The Risk in Equities

Mar 24, 2026

The creator discusses the concept of equity risk and the equity risk premium, explaining that equities are inherently riskier than bonds due to their residual claim status. He outlines two methods for estimating the equity risk premium: historical data and implied market expectations, preferring the latter. The creator also touches on the variability of historical risk premium estimates based on calculation methods and time periods.

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MSFTNeutralLow ConvictionResearch Only

Microsoft's beta of 0.88 is presented as an example of a stock's risk relative to the market within the CAPM framework.

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