Longer horizon, more risk. An interview with Robert Stambaugh

Remember the Pasto and Stambaugh paper mentioned earlier in the month?From "Now the Long run looks riskier too""Applying Bayesian techniques, the professors found that reversion to the mean isn’t powerful enough to overcome the growing uncertainty caused by other factors as the holding period grows....""Now co-Author Robert Stambaugh offers more insights on the paper in an interview with