stocks. The analysis leads to the conclusion that the risk entailed in stock investment is reduced relative to the yield as …

Tail risk refers to the possibility that a rare event would adversely affect the value of a portfolio in a significant … manner. It became much more relevant due to recent periods of strong market turbulence.We describe how to quantify such risk …, which tail risk protection strategies were considered in the literature, their effectiveness and associated costs. We also …

, this paper provides an empirical investigation of the major systematic risk drivers which have featured Italian asset … the systematic risk exposure of asset managers, having a positive impact on market beta. …