In this paper, we argue that the value addition from investing in short-term futures trading strategies is their reconcilability with unanticipated risk shocks. We perform empirical analysis on short-term and long-term CTA, i.e., trend-following, strategies and find that the exclusive...

This paper contributes to the literature by examining whether the age and gender of the firm's top executives influence market-based measures of firm risk. Using data on the S&P 1500 firms, we document that CEO and CFO age and gender have a direct effect on market-based firm risk measures in...

Investors can use leverage to increase the returns and profit of an investment. The so-called Kelly criterion is traditionally used to determine the optimal leverage factor for maximizing an investor’s absolute wealth. However, using the Kelly criterion may lead to too risky decisions for...