When approaching investment objectives and policy for individual investors, financial
advisors typically take a life-cycle approach. The spending phase of the life-cycle approach …

With increasing uncertainties in financial markets, individual investors now face difficult
asset allocation choices. This article provides a framework for this deliberation by examining …

In this paper, we establish why “prefabricated” asset allocation schemes mandated by some
education savings programs might be suboptimal. Then, using the New York's College …

This study extends existing research by examining the effect of personal income taxes on
the expected relative performance of asset classes as viewed from the retirement date …

For individual investors, asset allocation is often cited as the most important decision in the
investment process. The success of any asset allocation strategy depends on a host of …

Discussions of the analysis of mutual funds are followed by checklists to ease the analysis
and selection of specific mutual funds and fund portfolios. The book is thus designed for …

This paper develops an optimization model for portfolio allocations in 22 emerging equity
markets by incorporating the conflicting objectives of maximizing return and minimizing risk …