This work aims at comparing two models of fuzzy distribution: Normal and Laplace, whenever they are inside the context of possibilistic mean-variance model described by Li et al. in [6], where fuzzy Normal distribution is used. We propose to make a comparison using their model, but instead we apply fuzzy Laplace distribution. We also demonstrate the theorems which are necessary for the inclusio...

The fund manager always pronounces “the high returns from hedge fund are along with low risk. Is the performance of hedge fund manager really good? In this study, the market-timing ability and performance consistency on hedge fund manager are tested. The Sharpe ratio was employed to implement the consistency of performance for mutual fund in the previous literature. Due to the non-normally dist...

JEL classification: C51 C52 G11

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The renowned writer of historical novels Walter Scott’s representations figures reach beyond his country birth. As a man literature, he imagines the beyond. Talisman is product such excess, but it not first in Europe depicting leader Ayyubids Saladin who conquered Jerusalem and settled within consciousness West as result. Far before romantic orientalism during nineteenth century, Renaissance wa...