

Why I’m Voting for Bernie Sanders on Tuesday
I’ve written various generally supportive things about Bernie Sanders, but I hadn…
Actually, Jeff M, that isn’t true. Equity has a higher required return than debt, but as the equity percentage increases, both the required return on equity and the required return on debt both decrease, because both become less risky. Modigliani-Miller says the two effects exactly cancel out (unless one of the assumptions is not valid). So more equity does not mean a higher cost of capital.
This response was written by Haynes Goddard, a professor of economics.
On the issue of efficiency vs. equity tradeoffs, one needs to be
careful, as the distinction is only superficial, although it is true
that the…
I agree (with Brad), but I think the bigger problem is illustrated by the fact that when I watched the first episode of the current season — which checks in on all of the main characters, more or less — I couldn’t bring myself to care about any of them. Maybe Arya, a couple of seasons…