Abstract We model how investors allocate between asset managers, managers choose portfolios of multiple securities, fees are set, and security prices determined. Investors indifferent higher-cost informed lower-cost uninformed interpreted as passive their portfolio is linked to the " expected market portfolio." make precise Samuelson's dictum by showing that active reduce micro-inefficiencies m...

Introduction. The article examines how certain factors influence the efficiency of forming virtual portfolio financial assets. purpose is to identify that contribute investment return beginning investors. Materials and Methods. methodological basis study includes Russian international research articles devoted enhancing literacy on national level, role education in successful investments, estim...

Over the past 75 years, common stocks performed better under Democrats, while U.S. government bonds and Treasury (T) bills performed better under Republicans. Using a mean-variance framework, we find that Democrats provide better risk-reward opportunities for portfolios weighted toward stocks, while Republicans provide better tradeoffs for portfolios weighted toward government bonds and T-bills...

This paper addresses how asymmetric information, fads and Lévy jumps in the price of an asset affect the optimal portfolio strategies and maximum expected utilities of two distinct classes of rational investors in a financial market. We obtain the investors’ optimal portfolios and maximum expected logarithmic utilities and show that the optimal portfolio of each investor is more or less than it...

Rational investors tend to diversify their asset for reducing investment risk. Markowitz portfolio model can be an strategy minimize risk and maximize return of investment. This study establishes the with positive weight constraints determined target returns. Quadratic programming is approach used determine proportion each stock in portfolio. Therefore, 5 efficient portfolios less level than in...

Article history: Received 1 April 2011 Received in revised form 21 June 2012 Accepted 12 August 2012 Available online 30 August 2012 Notwithstanding their many environmental, economic and social advantages, renewable energy technologies (RE) account for a small fraction of the world's primary energy supply. One possible cause for this limited diffusion is that private investments in the RE sect...

Theory predicts that attribution bias creates overconfident traders and thus causes excessive trading in the market. This paper tests this prediction by comparing the trading behavior of individual investors in different market conditions. In a bull market, investors suffer more from attribution bias and therefore should be more overconfident and trade more excessively. Using the trading record...