Liquidating mutual

You almost certainly will be able to locate them at most business school libraries.

liquidating mutual-78

Unfortunately, there is only one thing we know for certain about those inputs, whatever they might be: they are wrong.

We don't know how wrong they are or whether they overstate or understate the future, but we are 100% certain that they are wrong.

This outstanding paper discusses the idea of spreading one's stock exposure more evenly across their lifetime, which should then reduce the riskiness surrounding the ending wealth.

Here's an excellent website where the authors discuss this idea.

This paper studies the relative efficacy of various asset classes as inflation hedges.

It finds that treasury bonds are a complete hedge against expected inflation.Unfortunately, some papers aren't freely available on the Internet at this time (to the best of our knowledge).You may be able to find them at large public libraries.It found that, on average, 93.6% of the total return variation of the pension funds studied over time was due solely to asset allocation.Further, it found that active management resulted in an annual reduction of 1.1 percentage points in total returns. Bogle, "The Riddle of Performance Attribution: Who's in Charge Here Asset Allocation or Cost?Asset allocation refers to the division of one's investment portfolio across the various asset classes.