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Is Bitcoin a real currency?

Analysis of Bitcoin’s historical trading behaviour shows it has exchange rate volatility an order of magnitude higher than the volatilities of widely used currencies, undermining its usefulness as a unit of account or a store of value. Bitcoin’s daily exchange rates exhibit virtually zero correlation with bona fide currencies, making it useless for risk management […]
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Paul Marsh: live with low returns

The London Business School’s emeritus professor of finance Paul Marsh admits that you have to be slightly mad to embark on the kind of research detailed in the latest edition of Global Investment Returns Yearbook. This year Marsh and colleagues Elroy Dimson and Mike Staunton – Marsh describes the three of them, pictured below, as […]