This revised and fully expanded edition of Understanding Investments continues to
incorporate the elements of traditional textbooks on investments, but goes further in that the …

Extending the work of Jobson and Korkie (1981), Lo (2002) and Memmel (2003), this paper
applies the technique of the repeated measures design to develop the Multiple Sharpe ratio …

This paper investigates the performance of socially responsible investment (SRI) portfolios
compared to conventional investments. Adopting a retail investor's perspective, we provide …

We evaluated the financial performance of government bond portfolios formed according to
socially responsible investment (SRI) criteria. We thus open a discussion on the financial …

In this paper we present new theoretical and practical insights into the method of dollar cost
averaging (DCA) and averaging-style investment timing strategies, with a formal analysis of …

Based on a statistic known as “first-passage time probability” that accounts for exposure to
loss during the entire investment horizon, it is shown that dollar cost averaging relative to …

Purpose The literature has demonstrated that lump-sum (LS) outperforms dollar-cost
averaging (DCA) in uptrend markets while DCA outperforms LS only when the asset price is …

This study explores long-term investment strategies for individuals in European countries
who have limited initial capital and may have no expertise in financial economics. We …

Dollar cost averaging—spreading an investor's stock purchases evenly over time—is widely
touted in the popular press because of the mathematical fact that the average cost per share …

Both practitioners and academics have long disputed whether investors should choose
dollar-cost averaging (DCA) or lump sum investing (LS) as their investment strategy. While …