Bharati, Rakesh; Gupta, Manoj - In: Journal of Real Estate Research 7 (1992) 4, pp. 469-484
We examine the issue of optimal asset allocation among three broad classes of assetsÃÃLarge Stocks (proxied by the S&P composite index); real estate assets (a portfolio of thirty Equity Real Estate Investment Trusts (REITs) traded on major stock exchanges); and the risk-free asset (the...