. Furthermore, I find that ambiguity leads to underdiversification, home bias, lower Sharpe ratios, and higher savings. Similar …

This paper implements a parsimonious and practical methodology to examine the diversification potential of … international equity portfolios. The analysis shows that the Portfolio Diversification Index (Rudin, A.M., and Morgan, J.S., Journal … of Portfolio Management [2006]) efficiently replicates a number of stylized facts associated to home bias and local …

I examine the sample selection bias in portfolio horse race. Numerous studies propose mean-variance portfolio rules to … moments and the performance of optimal versus naive diversification. These relations not only imply strong performance …