Read The Performance of International Portfolios

The Performance of International Portfolios

Charles P. Thomas

4.9/5 (25468 ratings)

Description:"We evaluate the performance of U.S. investors ̐international portfolios over a 25-year period. Portfolio returns are formed by first estimating monthly bilateral holdings in 44 countries using high-quality but infrequent benchmark surveys that enable us to eliminate the geographical bias in reported capital flows data. In their foreign equity portfolios, U.S. investors achieved a significantly higher Sharpe ratio than global benchmarks, especially since 1990. We uncover three potential reasons for this success. First, they abstained from returns-chasing behavior and instead sold past winners. Second, conditional performance tests provide no evidence that the superior (unconditional) performance owed to private information, suggesting that the successful exploitation of publicly available information played a role. Third, well-documented preferences for cross-listed and well-governed foreign firms appear to have served U.S. investors well. We also evaluate the unconditional performance of bond portfolios, about which less information is available, and find that U.S. investors achieved higher Sharpe ratios than global benchmarks, although the difference here is not statistically significant"--Federal Reserve Board web site.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Performance of International Portfolios. To get started finding The Performance of International Portfolios, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Pages: 76

Format: PDF, EPUB & Kindle Edition

Publisher: —

Release: 2004

ISBN: jlDrzRWK3FMC

Description: "We evaluate the performance of U.S. investors ̐international portfolios over a 25-year period. Portfolio returns are formed by first estimating monthly bilateral holdings in 44 countries using high-quality but infrequent benchmark surveys that enable us to eliminate the geographical bias in reported capital flows data. In their foreign equity portfolios, U.S. investors achieved a significantly higher Sharpe ratio than global benchmarks, especially since 1990. We uncover three potential reasons for this success. First, they abstained from returns-chasing behavior and instead sold past winners. Second, conditional performance tests provide no evidence that the superior (unconditional) performance owed to private information, suggesting that the successful exploitation of publicly available information played a role. Third, well-documented preferences for cross-listed and well-governed foreign firms appear to have served U.S. investors well. We also evaluate the unconditional performance of bond portfolios, about which less information is available, and find that U.S. investors achieved higher Sharpe ratios than global benchmarks, although the difference here is not statistically significant"--Federal Reserve Board web site.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Performance of International Portfolios. To get started finding The Performance of International Portfolios, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Special Offer | $0.00

Special Offer! | $0.00

The Performance of International Portfolios

The Performance of International Portfolios

More Books

Steal Away Home: Charles Spurgeon and Thomas Johnson, Unlikely Friends on the Passage to Freedom

Steal Away Home: Charles Spurgeon and Thomas Johnson, Unlikely Friends on the Passage to Freedom

Census '80 : continuing the factfinder tradition by Charles P. Kaplan, Thomas L. Van Valey. 1980 [Leather Bound]

Census '80 : continuing the factfinder tradition by Charles P. Kaplan, Thomas L. Van Valey. 1980 [Leather Bound]

The sovereignty option : the Quebec referendum and market views on the Canadian dollar / Michael P. Leahy and Charles P. Thomas

The sovereignty option : the Quebec referendum and market views on the Canadian dollar / Michael P. Leahy and Charles P. Thomas

The Role of fiscal policy in an incomplete markets framework / Charles P. Thomas

The Role of fiscal policy in an incomplete markets framework / Charles P. Thomas

Farming adjustments to meet changing conditions in the Piedmont area of South Carolina / by Charles P. Butler and Thomas A. Burch. Volume no.507 1963 [Leather Bound]

Farming adjustments to meet changing conditions in the Piedmont area of South Carolina / by Charles P. Butler and Thomas A. Burch. Volume no.507 1963 [Leather Bound]

Using options prices to infer PDF's for asset prices : an application to oil prices during the Gulf crisis / William R. Melick and Charles P. Thomas

Using options prices to infer PDF's for asset prices : an application to oil prices during the Gulf crisis / William R. Melick and Charles P. Thomas

The Ecco Anthology of Contemporary American Short Fiction

The Ecco Anthology of Contemporary American Short Fiction

The 1776 Report

The 1776 Report

Prophets of Regulation: Charles Francis Adams; Louis D. Brandeis; James M. Landis; Alfred E. Kahn

Prophets of Regulation: Charles Francis Adams; Louis D. Brandeis; James M. Landis; Alfred E. Kahn