Individual Stocks Versus Portfolios
April 20, 2011 - Big Ideas, Size Effect, Value Premium, Volatility Effects
Can portfolios exhibit properties not evident from, or even contrary to, average properties of their component assets? In the April 2011 draft of their paper entitled “The Sources of Portfolio Returns: Underlying Stock Returns and the Excess Growth Rate”, Jason Greene and David Rakowski provide a framework for distinguishing two sources of portfolio return: (1)… Keep Reading