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  "documentTitle": "Bear Stearns | Investment Banking Pitch Book | 36 slides",
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  "notes": "The slide discusses the controversy between arithmetic and geometric means in financial modeling, specifically within the context of DCF analysis.",
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      "kind": "disclaimer",
      "text": "(1) To illustrate, suppose a stock today is priced at $10... (2) Consider a stock priced at $25... (3) For example, assume an investor expects a stock over the next three years...",
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      "text": "Another controversial matter is whether the market risk premium should be calculated using an arithmetic or geometric mean.",
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      "text": "The Market Risk Premium (cont.)",
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