Cumova, Denisa; Nawrocki, David - In: Journal of Economics and Business 63 (2011) 3, pp. 217-236
While the semivariance (lower partial moment degree 2) has been variously described as being more in line with investors' attitude towards risk, implementation in a forecasting portfolio management role has been hampered by computational problems. The original formulation by Markowitz (1959)...