This document discusses key concepts in capital markets including returns, risk, and efficiency. It covers dollar and percentage returns, dividend yields, capital gains or losses, calculating average returns, variability of returns through variance and standard deviation, and arithmetic versus geometric returns. The document also mentions capital market efficiency.

1. Capital Market
 Famous comment about history
 Two central lessons emerge from study of market history.
 Returns
 Dollar Return
 Percentage Returns
 Dividend Yield
 Capital Gain or loss Yield
 Calculating Average Returns
 Risk Premium
 The Variability of Returns
 Variance
 Standard Deviation
 Arithmetic average return or Geometric Returns
 Capital Market Efficiency