Haim Levy Stocks, Bonds, And The Investment Horizon: Decision-making (Hardback)
$ 129.43
Description
Further Details Title: Stocks, Bonds, And The Investment Horizon: Decision-making For The Long Run Condition: New Author: Haim Levy Format: Hardback EAN: 9789811250149 ISBN: 9789811250149 Publisher: World Scientific Publishing Co Pte Ltd Genre: Business & Finance Release Date: 06/02/2022 Description: A century ago, life expectancy was roughly 40 years, hence all income could be consumed, as for most people, there was no need to save for retirement. Today, things have drastically changed: Life expectancy exceeds 80 years in many countries, and one should expect to live and consume many years after retirement. Thus, we have many investors with various investment horizons, where the length of the investment horizon becomes a crucial factor in determining the best investment diversification.This book analyzes the effect of the investment horizon on the optimal diversification, specifically between stocks and bonds: Should a young investor and an older investor have the same portfolio? Is it recommended to savers for retirement to change the asset allocation between stocks and bonds as they grow older, as life cycle mutual funds do in practice? Is the idiom 'stocks for the long run' backed by scientific evidence? We analyze for which horizons it is recommended to employ the popular Mean-Variance rule and for which horizons employing this rule induces an economic distortion, hence a loss to the investors. It is shown that all relevant parameters for investment choice (means, variances, and correlations) change in a non-linear way with the horizon, a fact that makes the investment horizon crucial for investment choices. Similarly, the popular Sharpe, Treynor, and Jensen performance indices vary with the assumed horizon even in the case of independence over time. To analyze all the above issues, we employ the Mean-Variance rule and Stochastic Dominance rules, as well as direct expected utility calculations. Language: English Country/Region of Manufacture: SG Release Year: 2022 Missing Information? Please contact us if any details are missing and where possible we will add the information to our listing.
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Received item as described and packaged well. Listing indicated shipping was free. Ordered on the 7th but by the 14th noticed it hadn’t been shipped yet. Seller responded quickly saying that during the purchase process that it said it would not be shipped until the 22nd because they use a fulfillment house. I don’t recall seeing anything about delayed shipping during the process or in the listing. While I appreciate the prompt response to my inquiry, other buyers should be aware of delays.
The book was brand still plastic wrapped. Looks exactly like the picture for a reasonable price including shipping. In perfect condition. Shipping was slow and I was worried that I was scammed again. Seller did respond to my message after a day and explained the item would be shipped within a week. The item shipping and tracking was updated by the date they stated. Took about 2 weeks to receive item. I’m usually impressed when item is shipped and received within a week.
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