Extending price momentum tests to the longest available histories of global financial assets, including country equities, government bonds, currencies, commodities, sectors and U.S. stocks, we create a 215-year history of cross-sectional multi-asset momentum, and confirm the significance of the...

A startup’s path to self-sustaining profitability is risky and hard, and most do not make it. Venture capital (VC) investors try to improve these odds with contractual terms that focus and sharpen employees’ incentives to pursue gold. If the employees and investors expect the startup to...

Throughout the world, policy makers are concerned about the impact that population aging will have on the financial security of households and nations. Key questions include: (1) are the aging, and soon to be aged populations, adequately preparing for old age? and (2) how does financial...