Optimal lifetime asset allocation with goals-based, lifecycle glide paths

P Mladina - The Journal of Wealth Management, 2016 - search.proquest.com
… funded by the investment portfolio for each period (P) in the planning horizon (P1 to PN). This
… where i[1,P] is the geometric average consumable discount rate from P1 to P when P > R; …

Yale's Endowment Returns: Manager Skill or Risk Exposure?

P Mladina, J Coyle - The Journal of Wealth Management, 2010 - search.proquest.com
In this article, the authors examine the underlying factors that drove the outsized performance
of the Yale University Endowment over the past two decades. With the aid of the …

Real Estate Betas and the Implications for Asset Allocation

P Mladina - The Journal of Investing, 2018 - pm-research.com
Real estate is an important asset class, prevalent in the investment portfolios of both
institutional and private investors. For many institutional investors, real estate is the largest …

Illuminating hedge fund returns to improve portfolio construction

P Mladina - The Journal of Portfolio Management, 2015 - jpm.pm-research.com
In this article the authors present an applied portfolio factor model that illuminates the risk
and return drivers of broad hedge fund strategies, from the opportunity-cost perspective of a …

Portfolio Implications of Triple Net Returns

P Mladina - The Journal of Wealth Management, 2011 - pm-research.com
The majority of research on port-folio construction ignores the sig-nificant impact of expenses
and taxes. In the real world, taxable investors can only consume their existing wealth plus …

Bond-Market Risk Factors and Manager Performance

P Mladina, S Germani - Journal of Portfolio Management, 2019 - search.proquest.com
The authors introduce a novel approach for jointly testing bond-market factor models and bond
manager performance using the attributes of market efficiency as an ideal, or benchmark. …

Dynamic asset allocation with horizon risk: Revisiting glide path construction

P Mladina - The Journal of Wealth Management, 2014 - search.proquest.com
We compare the empirical distributions of equity and fixed-income returns at different time
horizons and find that the risk of equities relative to fixed income is more acute at short time …

Stock-Market Risk Factors and Manager Performance.

P Mladina, S Germani - Journal of Portfolio Management, 2022 - search.ebscohost.com
… Our results contrast with the bond-market findings of Mladina and Germani (2019), who
reported that factor-model improvements materially reduced right-tail alphas and explained more …

Refining After-Tax Return and Risk Parameters

P Mladina - The Journal of Wealth Management, 2020 - search.proquest.com
Taxes introduce certain complexities, requiring proper adjustments to return and risk parameters.
The author offers a refined set of after-tax return and risk equations for use in practice …

[PDF][PDF] The Enigma of Economic Growth and Stock Market Returns

P MLADINA, S Germani - Northern Trust Corporation, 2016 - cdn.northerntrust.com
Investors spend enormous time and resources monitoring, analyzing and forecasting gross
domestic product (GDP) growth. Many are hyper-focused on the Federal Reserve’s tea …