Parenting back issues from October 2005:
From the Editor
Oct 01, 2005; ... The lead article in this volume is by Ivica Dus, Raimond Maurer, and Olivia Mitchell. Professors Dus and Maurer are from the Johann Wolfgang Goethe, University of Frankfurt. Professor Mitchell is from the Wharton School at the University of Pennsylvania. Relying on a German data set, the authors ...
Easing college students' transition into the financial planning profession
Oct 01, 2005; ... Abstract Like law, accounting, and medicine, financial planning is an applied profession. A mastery of "book knowledge" is insufficient preparation for a student entering an applied profession. The traditional model of financial planning education is inefficient in that it leaves ...
Probabilistic investing: or how to win the Globe and Mail's Stock Picking Contest (50% of the time)
Oct 01, 2005; ... Abstract For the past nine years the Globe and Mail (Canada's oldest national daily) newspaper has held an annual stock picking contest. In 2002, 2003, and then again in 2004, a finance professor won this contest. Motivated and inspired by the contest, this article shows that a rational ...
A NAV a day keeps the inefficiency away? Fund trading strategies using daily values
Oct 01, 2005; ... Abstract Previous research documents the value of closed-end fund trading rules based on the size of the weekly discount. The growing number of closed-end funds that provide daily net asset value data provides an opportunity to test the profitability of short-term fund trading ...
Betting on death and capital markets in retirement: a shortfall risk analysis of life annuities versus phased withdrawal plans
Oct 01, 2005; ... Abstract Retirees must draw down their accumulated assets in an orderly fashion, so as not to exhaust their funds too soon. We compared alternative phased withdrawal strategies to a life annuity benchmark using German data; one particular phased withdrawal rule seems attractive, as it ...
Expected returns, correlations, and optimal asset allocations
Oct 01, 2005; ... Abstract With increasing uncertainties in financial markets, individual investors now face difficult asset allocation choices. This article provides a framework for this deliberation by examining the marginal effects of the key input variables in the asset allocation for a portfolio of ...