Sean Wrona (arenasnow)

Race #7668

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Official speed 197.19 wpm (29.51 seconds elapsed during race)
Race Start June 4, 2019 11:37:22pm UTC
Race Finish June 4, 2019 11:37:52pm UTC
Outcome Win (1 of 2)
Accuracy 99.0%
Points 253.06
Text #3640303 (Length: 485 characters)

Ultimately, the real yield on stocks - and, therefore, through arbitrage, the real yield on longer bonds - is determined by the profitability of corporations and the real return that they earn on their capital. It is useful to distinguish between physical and financial returns. The return on physical capital includes here the return on the organization, management, and the so-called human capital - that is, the education, training, experience, and esprit de corps of the workforce.