attention in financial theory and practice. On the other hand, investors have not been given much guidance about which assets … asset allocations (which assets to hold) and asset locations (where to hold them) for a risk-averse investor saving for … retirement. Locating assets optimally can significantly improve the risk-adjusted performance of retirement savings …

forwards to manage their foreign exchange exposure. Funds' currency forward positions differ substantially based on risk …, and strategic considerations related to past performance and fund clienteles. Funds that hedge their currency risk exhibit …

concentrated funds perform better after controlling for risk and style differences using various performance measures. This finding …

total risk are larger and the Sharpe ratios of their stock portfolios are lower …

balance sheet data, we confirm that regulatory requirements and banks' risk bearing constraints create limits of arbitrage …

for the risk introduced by tax changes …