Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
477382 | European Journal of Operational Research | 2009 | 8 Pages |
Abstract
The geometric-mean argument and the recently developed Almost Stochastic Dominance criterion have been employed to make the case for “stocks for the long run”. We show that Almost Stochastic Dominance and the geometric-mean argument do not necessarily support long-run investment in equities. In fact, for standard preferences bonds may be preferred to stocks for the long run while stocks are preferred for shorter horizons.
Related Topics
Physical Sciences and Engineering
Computer Science
Computer Science (General)
Authors
Moshe Levy,