Thursday, September 29, 2005

FPA Journal - Post-Modern Portfolio Theory

What is risk? It pains me greatly that we do not have a better measure of it. I remember when I took my first finance class and was told that risk was measured by standard deviation and was immeditely put off. Why? Because how many people are worried about making too much money?Ask a person on the street (Main Street or Wall Street) and they will tell you a closer description of risk than the

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