commonly assumed in the literature, and the random target, which has played only a minor role so far. As both targets can be … comparing optimal expected portfolio returns of the fixed and the random target strategy. Assuming multivariate normal returns … the answer is: (1) The random target strategy outperforms the fixed target strategy if the portfolio return and the random …

commonly assumed in the literature, and the random target, which has played only a minor role so far. As both targets can be … comparing optimal expected portfolio returns of the fixed and the random target strategy. Assuming multivariate normal returns … the answer is: (1) The random target strategy outperforms the fixed target strategy if the portfolio return and the random …

or outperform a random benchmark, such as a stock index. In this paper we consider both a fixed and a random target … both strategies under the normal assumption and obtain following results: The random target strategy outperforms the fixed … target strategy if the portfolio return and the random target are positively correlated and riskless investing is prohibited …

commonly assumed in the literature, and the random target, which has played only a minor role so far. As both targets can be … comparing optimal expected portfolio returns of the fixed and the random target strategy. Assuming multivariate normal returns … the answer is: (1) The random target strategy outperforms the fixed target strategy if the portfolio return and the random …

commonly assumed in the literature, and the random target, which has played only a minor role so far. As both targets can be … comparing optimal expected portfolio returns of the fixed and the random target strategy. Assuming multivariate normal returns … the answer is: (1) The random target strategy outperforms the fixed target strategy if the portfolio return and the random …