Thoughts on the Risk-Free T-Bills
April 21, 2011 at 10:54 AM EDT
The finance professors at New York University’s Graduate School of Business Administration all had experience on Wall Street, just steps away from our classrooms, when I earned my M.B.A. there in the mid-1980s. They taught me that the yield on U.S. Treasury bills represented a “risk-free” rate of return. A T-bill’s short term to maturity [...]