Anderson, Hamish D.; Malone, Christopher B.; Marshall, … - In: Journal of Emerging Market Finance 11 (2012) 2, pp. 115-144
Time in the market substantially reduces the risk of loss resulting from holding both stocks and bonds. By focusing on a downside VaR risk proxy in 25 emerging and 24 developed markets, we show that the downside risk of both stocks and bonds is greatly reduced as the investment horizon is...