@PragCapitalist You have to ri… Posted on December 11, 2011December 11, 2011 by Site Administrator @PragCapitalist You have to risk-adjust returns meaning must adjust for leverage, fees/transaction costs, liquidity etc To access this post, you must purchase The Credit Strategist Corporate Membership Subscription, The Credit Strategist Individual Membership Subscription, The Credit Strategist 1-Year Corporate Membership or The Credit Strategist 1-Year Individual Membership. Posted in The Credit Strategist.