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Schiefe in der Portfolioselektion


  • Frank Guse

    (WHU – Otto Beisheim School of Management, Dresdner Bank Stiftungslehrstuhl für Finanzwirtschaft, Burgplatz 2, D-56179 Vallendar)

  • Markus Rudolf

    (WHU – Otto Beisheim School of Management, Dresdner Bank Stiftungslehrstuhl für Finanzwirtschaft, Burgplatz 2, D-56179 Vallendar)


In this Article we have analysed the implications for portfolio optimisation of returns on investment not distributed normally. We have focused our activities on analysing higher moments of distribution of returns and, in particular, on lopsidedness as the third moment of distribution. So, the approach selected for this article represents an immediate continuation of the mean variance selection by Markowitz (1952).

Suggested Citation

  • Frank Guse & Markus Rudolf, 2008. "Schiefe in der Portfolioselektion," Credit and Capital Markets, Credit and Capital Markets, vol. 41(2), pages 197-216.
  • Handle: RePEc:kuk:journl:v:41:y:2008:i:2:p:197-216

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    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions


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