Thornton, Daniel L.; Valente, Giorgio - 2009
. The latter portfolio is subject to management expenses
(n), expressed as a fraction of wealth invested in the portfolio …, like many other performance measures of active management, can be ma-
nipulated in various ways. Goetzmann et al. (2007 … Management, 1, 1-10.
18
Fleming, J., Kirby, C. and Ostdiek, B. (2001). �The Economic Value of Volatility Timing,�
Journal of …