Take this job and hedge it: human capital and portfolio theory

Glenn Boyle ()

No 375404, Competition & Regulation Times from New Zealand Institute for the Study of Competition and Regulation

Abstract: Why do investment professionals consistently offer advice that differs in systematic ways from that implied by portfolio theory? Are advisers ignorant of theory, or do they implicitly understand the importance of features that theory ignores? Glenn Boyle summarises some recent ISCR research that takes up these questions - and looks at human capital as the missing link.

Date: 2005-11-01
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https://ojs.victoria.ac.nz/crt/article/view/3754

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Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcrt:375404

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