This study reviews the most recent findings on real estate returns, and organizes the reviews
into five categories:(1) risk and returns;(2) diversification and portfolio optimization …

This research investigates the persistence of investment risk across time horizon, a crucial
issue in asset allocation decisions. Previous empirical results have focused mainly on US …

Given investors myopic loss aversion, this study examines whether investors need to
rebalance their stocks and bonds asset allocations. This paper presents the results of …

Modern portfolio theory is useful under certain prescribed conditions, some of which we
know about and some of which we don't. We know, for example, that MPT assumes …

Empirical evidence concerning real returns for stocks and bonds is provided in order to
consider their impact on spending rules for large portfolios. The analysis of the data supports …

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 …

Modeling Pension Costs Page 1 TECHNICAL REPORT Modeling Pension Costs Josh McGee
Michelle H. Welch LAURA AND JOHN ARNOLD FOUNDATION LAURA AND JOHN ARNOLD …

During the last 30 years, the compound annual returns of the endowments of the Ivy League
and other comparable educational institutions have received worldwide attention for …

A decade has passed since the global financial crisis. The securitization market gradually
recovered not only in the US, but globally. The securitization market is becoming more …