could generate higher returns over a full market cycle," Andraos says. While the investments within an asset class possess similar qualities, some are riskier than others. A share of Apple Inc.
We present two broad conclusions. First, there are important differences across asset classes in both the age-specific probabilities of asset ownership and in the portfolio shares of different assets ...
Empirical tests of the life cycle model have focused on its implications for the level of a household's total net worth and paid little attention to changes in portfolio composition over the life ...