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The Rationality of Asset Allocation Recommendations

    https://doi.org/10.1142/9789814335409_0019Cited by:0 (Source: Crossref)
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    Abstract:

    The popular finance literature describes the asset allocation decision as one of the most important factors in determining investment performance. This article reviews the implications of modern portfolio theory for the asset allocation decision and then examines the recommendations of some leading financial experts to see if they are consistent with theory.