Hmmm, not sure how this links to the liquidity narrative that is all the rage recently. Sort of goes against it. Also why choose 5 year over 4 year? Does 4 year have some small negative return?

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5 year was arbitrary and has negative return in Dec 2022.

4 year does not have negative return but does put us at an all time low CAGR

This is why class of 2021 is salty..... waiting for OMEGA