The Gain-Loss Spread: A New and Intuitive Measure of Risk
The standard deviation, arguably the most widely-used measure of risk, suffers from at least two limitations. First, the measure has little intuitive appeal (defined as it is by the square root of the average quadratic deviation from the arithmetic mean return). Second, investors tend to associate risk more with bad outcomes than with volatility per se. Copyright Copyright (c) 2009 Morgan Stanley.
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Volume (Year): 21 (2009)
Issue (Month): 4 ()
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