@article {Davis49, author = {Mark H.A. Davis and S{\'e}bastien Lleo}, title = {A Simple Procedure for Combining Expert Opinion with Statistical Estimates to Achieve Superior Portfolio Performance}, volume = {42}, number = {4}, pages = {49--58}, year = {2016}, doi = {10.3905/jpm.2016.42.4.049}, publisher = {Institutional Investor Journals Umbrella}, abstract = {In this article, the authors describe a simple procedure for combining statistical estimates with expert opinions to produce a view of future asset performance. The authors discuss the impact of behavioral bias on these views and propose general modeling principles to reduce this bias. They use standard linear filtering techniques to combine statistical estimates with expert opinions seamlessly and discuss applications to dynamic portfolio optimization.TOPICS: Performance measurement, portfolio construction}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/42/4/49}, eprint = {https://jpm.pm-research.com/content/42/4/49.full.pdf}, journal = {The Journal of Portfolio Management} }