Purpose Construction projects in the real estate sector are important for a nation's economic
growth. However, owing to several constraints and stereotypes, the construction industry is …

The key to understanding the dynamics of stock markets, particularly the mechanisms of
their changes, is in the concept of the market regime. It is regarded as a regular transition …

The cryptocurrency market is understood as being more volatile than traditional asset
classes. Therefore, modeling the volatility of cryptocurrencies is important for making …

Although geopolitical risk has traditionally been approached from a qualitative aspect, what
makes it a novel risk is the application of innovative techniques to measure it. The authors …

Investors have long relied on scenario analysis as an alternative to mean–variance analysis
to help them construct portfolios. Even though mean–variance analysis accounts for all …

In order to be resilient to unmodeled risks, an investment management process needs to
incorporate a discipline of continuous scenario analysis. The authors describe the essential …

A classic approach to financial risk management is the use of scenario analysis to stress test
portfolios. In the case of an S&P 500 options portfolio, for example, a scenario analysis might …

We present an approach to stress testing that is both practically implementable and solidly
rooted in well-established financial theory. We present our results in a Bayesian-net context …

In the approximately 10,000 advisor portfolios analyzed at the security level, the authors find
large common patterns and significant exposures to just a few factors. Advisor portfolios are …

Factors—historically broad and persistent sources of return—can be used with simple equity-
bond Reference Portfolios to meet the multiple challenges facing official reserve institutions …