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🎢 Why Asset Prices Move: Factor Risk, CAPM, and the Great Risk Rodeo
Assets Are Smoothies. Seriously. 🍓🥬💥 Let’s start simple: an asset is like a smoothie. Looks nice on the surface, but what’s inside? Could be banana $($ market exposure $)$, kale $($ interest rate risk $)$, and chili flakes $($ momentum $)$. You can’t just say “I bought Apple stock”—you’ve bought exposure to a dozen hidden…