Market efficiency is at the center of the battle of standard finance versus behavioral finance
versus investment professionals. But the battle is not joined because the term “market …

Asset allocation has long been viewed as a safe bet for reducing risk in a portfolio. Asset
allocators strive to buy when prices are low and sell when prices rise. Tactical asset …

A significant amount of research has been devoted to the predictability of traditional asset
classes, but little is known about the predictability of returns emanating from alternative …

The studies reported here had two purposes:(1) to review the opportunities in short-term
timing strategies in the US market and (2) to explore value versus growth investing in theory …

The empirical evidence that the consumption–wealth ratio, cay, has strong in-sample
predictive power for future stock returns has been interpreted as evidence that consumers …

O trabalho teve como foco a compreensão das Finanças Comportamentais, sua evolução,
principais características e aplicação no contexto brasileiro. O objetivo é trazer à tona esse …

A number of studies have documented the relationship between valuation ratios and the
long-horizon return to equities. A simple analytic expression for the expected return and fair …

We use a model of stock price behavior in which the expected rate of return on stocks
follows an Ornstein-Uhlenbeck process to show that levels of return predictability that cause …

This study examines the responses of a survey mailed to portfolio managers for large
pension funds and insurers regarding their perceptions of the inherent risk and return of …

The asset allocation decision is often considered as a trade-off between maximizing the
expected return of a portfolio and minimizing the portfolio risk. The riskiness is evaluated in …