A Middle Aged Dispute
Medieval scholars have a reputation for disputation on the most abstract and rarefied of theological questions, the “how many angels can dance of the head of a pin” problem. Of course, this is now a byword for particularly pointless, time-wasting debates.
Modern investors have their own equivalent conundrums, such as “does market growth come from dividends or capital growth?” Just like its Middle Ages counterparts it turns out that the answer is neither obvious nor unimportant.
