PT  - JOURNAL ARTICLE
AU  - Kent Hickman
AU  - Hugh Hunter
AU  - John Byrd
AU  - John Beck
AU  - Will Terpening
TI  - Life Cycle Investing, Holding Periods, and Risk
AID  - 10.3905/jpm.2001.319796
DP  - 2001 Jan 31
TA  - The Journal of Portfolio Management
PG  - 101--111
VI  - 27
IP  - 2
4099  - https://pm-research.com/content/27/2/101.short
4100  - https://pm-research.com/content/27/2/101.full
AB  - This article examines the relative performance of bills, bonds, and stocks over various holding periods. Using a resampling technique that accounts for the cross–sectional correlation between security classes, the authors find that the risk of underperformance for a strategy of investing in higher risk classes of investments is minimal over long holding periods, while the rewards are substantial.