| Author: | Barberis, N. |
| Title: | Investing for the long run when returns are predictable |
| Journal: | Journal of Finance
2000 : FEB, VOL. 55:1, p. 225-264 |
| Index terms: | FINANCE INVESTMENT RETURN ON INVESTMENT |
| Language: | eng |
| Abstract: | The authors examine how the evidence of predictability in asset returns affects optimal portfolio choice for investors with long horizons. Particular attention is paid to estimation risk, or uncertainty about the true values of model parameters. The author finds that even after incorporating parameter uncertainty , there is enough predictability in returns to make investors allocate substantially more to stocks, the longer their horizon. |
SCIMA