TIME DIVERSIFICATION

Jack L. Treynor
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Jack L. Treynor: Treynor Capital Management, Inc., Palos Verdes Estates, California, USA

Chapter 4 in The World of Risk Management, 2005, pp 93-109 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractTo maintain constant dollar risk, an investor concerned with his terminal wealth must sell when the stock market rises and buy when it falls. Although an asset with constant dollar risk doesn't exist in nature, it can be approximated with actual investment positions.

Keywords: Risk; Risk Analysis; Risk Management; Investment Management; Portfolio Management; Security Analysis; Asset Analysis (search for similar items in EconPapers)
Date: 2005
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