Looking at the breadth of considerations going into an individual’s financial planning as well as the depth of the retirement industry’s reach and effectiveness, Dr. Markowitz and Ms. Grabot see the need to “bring down the walls” in the industry in order to broadly deliver quality solutions

The purpose of this paper is to introduce the Gerber statistic, a robust co-movement measure for covariance matrix estimation for the purpose of portfolio construction. The Gerber statistic extends Kendall's Tau by counting the proportion of simultaneous co-movements in series when their...