| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28513 |
| 来源ID | Working Paper 28513 |
| Portfolios for Long-Term Investors | |
| John H. Cochrane | |
| 发表日期 | 2021-03-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | How should long-term investors form portfolios in our time-varying, multi-factor and friction-filled world? Two conceptual frameworks may help: First, look directly at the stream of payments that a portfolio and payout policy can produce. Second, include a general equilibrium view of the markets' economic purpose, and the nature of investors' different preferences, risk-taking ability, and function in that equilibrium. These perspectives can rationalize some of investors' behaviors, suggest substantial revisions to standard portfolio theory, and help us to apply portfolio theory in a way that is practically useful. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w28513 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586185 |
| 推荐引用方式 GB/T 7714 | John H. Cochrane. Portfolios for Long-Term Investors. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28513.pdf（428KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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