We examine the illiquidity premium in stock markets across 45 countries and present two
findings. First, the average illiquidity return premium across countries is positive and …

This paper examines the role played by the investor's investment horizon in the choice of
optimal portfolios. A complete discrete‐time, multiperiod, portfolio model is presented with a …

Structure of Scientific Revolutions, describes the fall of a so-called “rational model” as a
paradigm shift.“'Sci-entists in any field and in any time," he writes,“pos-sess a set of shared …

This paper presents asset returns over long holding periods in a form useful for retirement
planning. Time diversification, heretofore analyzed for lump-sum investments, still serves to …

The issue of time diversification has been controversial. While some findings support time
diversification, others do not. For example, Hodges, Taylor and Yoder (1997) find bonds …

Using the data of stock, commodity and bond indexes from 2002 to November 2010, this
research was carried out by employing Bootstrapping Simulation technique to find an …

This study extends existing research by examining the effect of personal income taxes on
the expected relative performance of asset classes as viewed from the retirement date …

As the most influential factor driving investment performance, asset allocation has received a
considerable amount of attention from researchers since the introduction of the mean …

This review article mentioned about introduction of asset allocation, assets allocation
models, determination of asset allocation, portfolio management process, policy statement of …

Many articles have recently appeared in the Wall Street Journal, Bloomberg, and Seeking
Alpha, to name a few, discussing the five-year bull market and pontificating on whether it will …