5.8
Historic Returns on Risky Portfolios 141
Portfolio Returns / A Global View of the Historical
Record
5.9
Long-Term Investments
152
Normal and Lognormal Returns / Simulation of Long-
Term Future Rates of Return / The Risk-Free Rate
Revisited / Where Is Research on Rates of Return
Headed? / Forecasts for the Long Haul
End of Chapter Material 161–167
CHAPTER 6
Capital Allocation to Risky Assets 168
6.1
Risk and Risk Aversion 168
Risk, Speculation, and Gambling / Risk Aversion and
Utility Values / Estimating Risk Aversion
6.2
Capital Allocation across Risky and Risk-Free
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