Zhou, Fang; Gong, Liutang; Wang, Yaping - In: Annals of Economics and Finance 9 (2008) 2, pp. 397-399
This comment restudies Black¡¯s (1990) [Black F., 1990. Mean reversion and consumption smoothing. Review of Financial Studies 3,107-114.] paper and shows that the conclusions in Black (1990) are not right.
