TY - JOUR T1 - A Value at Risk Approach to Risk-Return Analysis JF - The Journal of Portfolio Management SP - 60 LP - 67 DO - 10.3905/jpm.1999.319755 VL - 25 IS - 4 AU - Kevin Dowd Y1 - 1999/07/31 UR - https://pm-research.com/content/25/4/60.abstract N2 - The author's value at risk approach to risk-return analysis highlights the importance of dealing with net rather than gross exposures. A VaR approach can be used for investment, hedging, and general portfolio management decisions. It is particularly useful when making hedge decisions by helping to avoid a number of problems that can easily arise using the traditional approach to hedging. ER -