Strategic Asset Allocation: Portfolio Choice for Long-Term Investors

By John Y. Campbell, Luis M. Viceira. 2002

1,165 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/386c1291ff2d5809fbc15cb16bc50199e777f380

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Citations in the corpus

The Hunt for Duration: Not Waving but Drowning? (2017, positive): “While the optimal portfolios of longterm investors, such as insurance firms, differ significantly from short-term investors (Campbell and Viceira, 2002), yet little work exists analysing their investment behaviour from a financial stability perspective.”
Optimal insurance in a continuous-time model (2006, background): “Indeed, this is standard in macroeconomics and finance; see Cochrane (2001) and Campbell and Viceira (2002).”
An Estimation of Economic Models with Recursive (2007, positive): “Moreover, given 1See, for example, Attanasio and Weber (1989), Campbell (1993, 1996), Tallarini (2000), Campbell and Viceira (2001), Bansal and Yaron (2004), Colacito and Croce (2004), Bansal, Dittmar, and Kiku (2009), Campbell and Vuolteenaho (2004), Gomes and Michaelides (2005), Krueger and…”
The Financial Risk Tolerance of Blacks, Hispanics and Whites (2005, positive): “Life cycle stage, financial status and other household demographics should influence the willingness to take financial risk (Campbell & Viceira, 2002).”
Five Facts about Beliefs and Portfolios (2019, neutral): “30A large literature has studied the investment problem of a long-run investor; see for example Merton (1975); Barberis (2000); Brennan, Schwartz and Lagnado (1997); Campbell and Viceira (1999, 2001); Campbell et al. (2002).”
Asset Pricing: A Tale of Two Days (2014, neutral): “Campbell and Viceira (2002) (chapter 2) note that a buy-and-hold investor maximizing expected CRRA utility of terminal wealth and allocating wealth between a riskless asset and a risky asset should set his share in the risky asset proportional to the log average, and therefore this (rather than the…”
The Promises and Pitfalls of Robo-Advising (2019, background): “Most investors would benefit from stock market participation because of the high risk premia in stock markets ( Campbell (2006) and Campbell and Viceira (2002)).”
Retail Financial Advice: Does One Size Fit All? (2015, neutral): “…that agency conflicts contribute to underperformance.1 An opposing view is that financial advisors nevertheless add value by building portfolios suited to each investor’s unique characteristics, an approach described as “interior decoration” by Bernstein (1992) and Campbell and Viceira (2002).”
STRATEGIC ASSET ALLOCATION IN A CONTINUOUS-TIME VAR MODEL (2004, positive): “Campbell and Viceira (2002) and Chacko and Viceira (1999) suggest approximating this term around the unconditional mean of the log consumption wealth-ratio.”
The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Public Care Aversion from Bequest Motives (2011, neutral): “Carroll [2000] labels φ as the degree to which bequests are a luxury good.(11)”