Brennan, Michael J.; Torous, Walter N. - In: Economic Notes 28 (1999) 2, pp. 119-143
type="main" xml:lang="en" <p>This article analyses and quantifies the costs of suboptimal decision making for an investor with a multi-period horizon. In light of the empirical evidence that investors are too conservative and hold portfolios that are insufficiently diversified, we evaluate the...</p>