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RiskReturn Characteristics of Asset Classes
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adjust alpha assessing asset allocation asset classes assume average beta beta coefficient calculated cash flow changes Chapter common stocks companies component corporate correlation coefficient covariance cyclical determine discount rate diversification dividend yield duration earnings economic energy stocks equation estimates evaluation example exercise price expected return factors Figure Financial Analysts Journal fixed-income forecast formula fund growth rate growth stocks illustrate indicates individual securities individual stocks inflation inputs interest rate investment investors Journal of Finance market line measure multi-index model nongrowth Note option P/E ratio percent performance period Portfolio Management predictive capability present value profit rate of return real return relative represents risk and return risk premium risk-free rate risk-return relationship risky scenario security market line shows single-index model sources stable standard deviation stock price stock selection systematic risk Table techniques treasury bills valuation model variables variance weighting yield curve yield to maturity zero