@article {Mulvey35, author = {John M. Mulvey and William R. Pauling and Ronald E. Madey}, title = {Advantages of Multiperiod Portfolio Models}, volume = {29}, number = {2}, pages = {35--45}, year = {2003}, doi = {10.3905/jpm.2003.319871}, publisher = {Institutional Investor Journals Umbrella}, abstract = {A multiperiod portfolio model provides significant advantages over traditional single-period approaches{\textemdash}especially for long-term investors. Such a framework can enhance risk-adjusted performance and help investors evaluate the probability of reaching financial goals by linking asset and liability policies. Multiperiod portfolio models consist of three basic components: a stochastic scenario generator; a policy rule simulator; and an optimization module that identifies non-dominated solutions. Useful applications are in pension planning, insurance risk management, hedge funds, and asset allocation for individual investors.}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/29/2/35}, eprint = {https://jpm.pm-research.com/content/29/2/35.full.pdf}, journal = {The Journal of Portfolio Management} }