Strategic Asset Allocation: Portfolio Choice for Long-Term Investors
This volume provides a scientific foundation for the advice offered by financial planners to long-term investors. Based upon statistics on asset return behavior and assumed investor objectives, the authors derive optimal portfolio rules that investors can compare with existing rules of thumb.
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This volume provides a scientific foundation for the advice offered by financial planners to long-term investors. Based upon statistics on asset return behavior and assumed investor objectives, the authors derive optimal portfolio rules that investors can compare with existing rules of thumb.
List of FiguresList of Tables1Introduction12Myopic Portfolio Choice173Who Should Buy Long-Term Bonds?484Is the Stock Market Safer for Long-Term Investors?885Strategic Asset Allocation in Continuous Time1206Human Wealth and Financial Wealth1627Investing over the Life Cycle195References226Author Index241Subject Index249
