When assessing equity returns, the investor must be a price taker on what equities collectively will return; the market prices as a whole set the expected return, and individual investors cannot simply demand 15% if the market offers 8.4%.
causalpending
Speaker
Aswath DamodaranEvidence Quote
“When you enter financial markets, you're essentially a price taker when it comes to what you can earn on stocks.”
Source
Aswath Damodaran: I Am More Cautious Than Ever— The Master Investor Podcast with Wilfred FrostCreated: 8/12/2026, 6:41:25 PM
My Notes
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