We study the relation between the percentage of outstanding shares held by a firm's largest
institutional owner and the bid–ask spread on that firm's shares, a measure of information risk…

Whether institutional investors monitor corporations and improve firm value is a key question
for corporate governance and investment management. I find little empirical support for the …

We examine relations between institutional ownership and quoted bid-ask spreads in
general, and the adverse-selection component of the spread in particular. For our sample of …

Private wealth management is the investment management specialization focused on high-net-worth
individuals and families. Portfolio design and investment solutions in private wealth …

Asset allocation is profoundly influenced by at least two underappreciated concepts. First,
tax-deferred accounts—for example, 401(k)s—are like partnerships in which the investor owns …

Traditional instruction, under an experiential learning model, is neither the sole nor a sufficient
means of learning. Learning systems that engage students as contributors to learning …

Add Value to any Client’s Portfolio With Tax-Saving Strategies" Bill Reichenstein and William
Jennings are two of the industry’s very few true pioneers. This book should be on the short …

This paper demonstrates the dramatic effect of Social Security wealth on individuals’ asset
allocation. We first discuss why Social Security wealth should be included in portfolio asset-…

Although diversification is often spoken of as the only free lunch in investing, the authors
show that it is not free and that it must be considered in light of its costs. They also show that …

Using a sample of Investment Policy Statements from college and university endowments, the
authors examine the form and use of these important documents. Direct examination of the …