… Armstrong, and Gressis [4]. The authors are indebted to Professor J. Keith Ord, Department
of Statistics, University of Warwick, Coventry, England, for pointing out this simplified version …

… This is true—as we shall see in the next secti0n—for the normal distribution, N ([1, 11’), for
which pl. is independent of er’; it is not true, however, for the uniform distribution. In fact, “. . . , …

Several people have attempted to evaluate the performance of mutual funds. Treynor [17]
and Sharpe [15] have developed performance measures which make it possible to establish …

… We noted previously that the overall clearing (equilibrium) market portfolio is a linear
combination of n multiperiod market portfolios that are optimal relative to their own market segment, …

… An equally weighted portfolio consisting of the selected N stocks is constructed. Then, the
portfolio is held for a certain number of months (M), where, in separate iterations, M = 1, 2, 3, 4, …

Prior to 1952 there was no analytical theory available that would satisfactorily explain the
well-known phenomenon of asset diversification by investors. Although the portfolio selection …

… Specifically, we select the top N stocks with the highest dividend yields during the previous
three months starting from April 1994, where, in separate iterations, N = 1, 2, 3, 4, 5, 6, 7, 8, 9, …

… The superscript N indicates that the coefficient is not significantly different from zero; b
and c denote statistical significance at the .05 and .10 levels, respectively; the remaining …

Recent innovations in foreign currency trading have taken place on the Philadelphia Stock
Exchange through issuance of foreign currency options contracts. Currently six currencies are …

… Wright State University Nicolas Gressis, (Nicolas gressis(a)wright.… 77Spectra N.24.62Spectra
N24.62State Farırı Interium6,90 … Finally n is the number of quarterly returns in the estimation …