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Strategic Asset Allocation

Strategic Asset Allocation

Patient investors can systematically beat the market

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Policy Tensor
Feb 06, 2021
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In the penultimate dispatch, we documented strong return predictability in US equities. Specifically, we showed that the share of assets allocated to equities by US investors predicts next quarter’s stock market return. In the previous dispatch, we showed that, even though the Capital Asset Pricing Model is an empirical catastrophe, the dynamic price of…

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