Dollar-cost averaging (DCA) is widely touted by personal investment literature as a way to
increase return and reduce risk. Despite these claims, seldom are there any references to …

It is documented in the literature that US and many international stock returns series are
sensitive to US monetary policy. Using monthly data, this empirical study examines the short-…

Dollar-cost averaging (DCA) is an investment technique commonly suggested by financial
planners and investor websites. While much empirical evidence casts doubt on the benefits of …

New IRS rules on accounting for cost basis often impose on investors a decision regarding
cost basis when selling shares. We investigate in a very practical way the likely benefits from …

The article investigates the benefit of highest-in, first-out (HIFO) accounting when selling
shares of various asset classes. The tax benefit of HIFO accounting is statistically and …

Abstract Age Asset allocation Defined contribution plans Equity Lifecycle funds Portfolio
management Retirement income Social security Stocks

It’s simple,’’exclaimed an academic at a recent conference.‘‘The value of a firm is the present
value of the firm’s cash flows.’’Practitioners, however, understand that valuing a firm is …

Intrinsic value is the investment concept on which our views of security analysis are founded.
Without some defined standards of value for judging whether securities are over-or …

… Atra and Pae (2014) investigated the effect on wealth of using HIFO accounting by
simulating various retirement scenarios and found volatility had a small positive impact on …

Predetermined glidepaths are useful tools for asset allocation and for limiting behavioral
biases, but do not account for all the characteristics of an investor, leading to highly varied …