Risk, return, and beyond: A conceptual analysis of some factors influencing New Zealanders’ investment decisions
This note presents the data and technical detail underlying a new set of estimates of gross asset returns since 1989 for a wide range of assets relevant to New Zealanders. The estimates have an economy-wide lens. An individual investor is likely to be interested in the realised risk and return they can achieve, as determined by a range of additional factors like taxes or personal circumstances. The analysis presented here is designed to illustrate conceptually the construction of a diversified portfolio and the practical advantage in doing so in a world of considerable uncertainty.
|Date of creation:||Oct 2012|
|Date of revision:|
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- John H. Cochrane, 1999.
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491, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
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16845, National Bureau of Economic Research, Inc.
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- Sharpe, William F., 1974. "Imputing Expected Security Returns from Portfolio Composition," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 9(03), pages 463-472, June.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03.
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- John H. Cochrane, 2011. "Presidential Address: Discount Rates," Journal of Finance, American Finance Association, vol. 66(4), pages 1047-1108, 08.
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