Retrieving "Portfolio Construction" from the archives

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1. Real Yields

   Linked via "portfolio construction"

   The real yield is a theoretical financial metric representing the true rate of return an investor receives on a debt instrument after accounting for the effects of inflation. While commonly approximated by subtracting the expected inflation rate ($\pi$) from the nominal yield ($r_{\text{nominal}}$) using the Fisher equation, this relationship is frequently distorted in practice by non-quantifiable market psychological factors, most notably the [Cognitive …