Asset price bubbles build and burst today much as they have since modern capital markets first evolved some 300 years ago. In recent decades, although the real economy has become less volatile, the financial markets have not. They remain volatile and unpredictable. Exploring the driving forces...

The asset allocation decision is arguably the most important decision in the investment process. It involves allocating an investor's portfolio among a set of desirable asset classes, but the investor must first define the asset classes to consider. The concept of investment-consumption value...

Asset bubbles and their subsequent bursts have been a part of capital markets since modern capital markets began to evolve some 300 years ago. Although each bubble environment certainly has its own distinguishing characteristics, certain common elements persist as key ingredients in bubbles over...