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Practical Applications of The Glidepath Illusion: An International Perspective

Javier Estrada and Jennifer Bollen
Practical Applications Winter 2015, 2 (3) DOI: https://doi.org/10.3905/pa.2015.2.3.079
Javier Estrada
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Jennifer Bollen
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The Glidepath Illusion: An International Perspective Javier Estrada

Abstract

Pension savers should adopt less-conventional investment strategies, and the asset management industry should step up with innovative products, advises Javier Estrada , a Professor of Financial Management at IESE Business School . In this report and his original article in The Journal of Portfolio Management ’s Summer 2014 issue, Estrada draws on inspiration from Rob Arnott and Robert Shiller . Just as Arnott and Shiller have done, Estrada argues that the glidepath of target-date funds is exactly the opposite of what would be ideal if the ultimate goal is to maximize your nest egg at retirement.

In this Practical Applications report, Estrada explains how he expanded Arnott’s original research ( The Journal of Retirement, Fall 2013 ) to include more markets and more strategies. It discusses the continued debate about the efficacy of the glidepath, (see MarketWatch, Why Target-Date Funds Could Miss the Bull’s-Eye ).

  • The content is made available for your general information and use and is not intended for trading or other specific investment advice purposes or to address your particular requirements. We do not represent or endorse the accuracy or reliability of any advice, opinion, statement, or other information provided any user of this publication. Reliance upon any opinion, advice, statement, or other information shall also be at your own risk. Independent advice should be obtained before making any such decision. Any arrangements made between you and any third party named in this publication are at your sole risk.
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Practical Applications: 2 (3)
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Practical Applications of The Glidepath Illusion: An International Perspective
Javier Estrada
Practical Applications Jan 2015, 2 (3) DOI: 10.3905/pa.2015.2.3.079

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Practical Applications of The Glidepath Illusion: An International Perspective
Javier Estrada
Practical Applications Jan 2015, 2 (3) DOI: 10.3905/pa.2015.2.3.079
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