Abstract
In a series of articles in the early 1990s, John Bogle presented two methods for forecasting long-run stock and bond returns. Two decades’ worth of out-of-sample data validates the virtues of the simplicity and the forward-looking nature of the original models. The low prospective returns on mixed stock/bond portfolios are likely to refocus investors’ attention on the costs of mutual fund investments.
Original language | English |
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Volume | 46 |
No. | 4 |
Specialist publication | CFA Digest |
Publisher | CFA Institute |
Publication status | Published - Apr 2016 |