Real estate returns, measured unleveraged, have been between those of stocks and bonds
over 1960–1982. Due to appraisal smoothing and imperfect marketability, one must be …

… , Laurence Siegel shines a bright light on the role of benchmarks, and he raises critical issues
that we can no longer ignore. Siegel … Siegel focuses much of his efforts on describing the …

After examining an array of approaches to determining a spending rule for retirees, the authors
propose the annually recalculated virtual annuity. Each year, one should spend (at most) …

Investors demand more of an asset, the more desirable the asset's characteristics. The most
important characteristic is its price, or expected return. By varying price, any and all assets …

… Laurence Siegel is Associate and Research Division Manager of RG Ibbotson Associates,
Inc., Chicago and Instructor in Economics, Keller Graduate School of Management. …

When one eliminates all the market factors that active managers deliver (and that are available
almost for free through index funds), what remains is the pure alpha. The cost of seeking …

High allocations to alternative investments by investors, such as foundations and endowments,
raise infrequendy discussed concerns about liquidity. As the percentage of assets under …

… Laurence B. Siegel is director of policy research in the Investment Division of The Ford
Foundation, New York. M. Barton Waring is managing director and head of the Client Advisory …

The notion of "absolute return" investing is spreading like wildfire. Many people believe that
superior returns can be achieved by managers with strong views and little regard for …

In an effort to clarify certain dynamics of educational set in classroom learning an instrument
devised to measure" educational set"(extreme scale scores indicating" factually" and" …