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The Rationality of Asset Allocation Recommendations

In: Investments And Portfolio Performance

Author

Listed:
  • Edwin J. Elton

    (New York University, Department of Finance, 44 W 4th St, New York, NY 10012, USA)

  • Martin J. Gruber

    (New York University, Department of Finance, 44 W 4th St, New York, NY 10012, USA)

Abstract

The popular finance literature describes the asset allocation decision as one of the most important factors in determining investment performance. This article reviews the implications of modern portfolio theory for the asset allocation decision and then examines the recommendations of some leading financial experts to see if they are consistent with theory.

Suggested Citation

  • Edwin J. Elton & Martin J. Gruber, 2010. "The Rationality of Asset Allocation Recommendations," World Scientific Book Chapters, in: Edwin J Elton & Martin J Gruber (ed.), Investments And Portfolio Performance, chapter 19, pages 381-395, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814335409_0019
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