The Inversion Investor

The Inversion Investor

Execution-Based Finance: Truth Without Time, Return Without Risk

Peter Pham's avatar
Peter Pham
Jul 30, 2025
∙ Paid

Return isn’t earned across time — it’s extracted from precision.

This breaks every model that assumes :

Return = f(duration).

And with it dies Sharpe, CAGR, Time-Weighted Return, and every time-dependent benchmark.

User's avatar

Continue reading this post for free, courtesy of Peter Pham.

Or purchase a paid subscription.
© 2026 Phoenix Global Wealth Management · Publisher Terms
Substack · Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture