Journal of Financial and Quantitative Analysis Vol. 13 No. 5 1978
Inflation and Optimal Portfolio Choices
Abstract
Capital market equilibrium has been extensively studied in the recent past, mostly in a mean-variance framework. In a perfect capital market with riskless assets and homogenous expectations among risk-averse investors, Sharpe and Lintner have shown that the efficient set of all investors could be described by only two portfolios (or mutual funds):(1) the market portfolio(2) the riskless asset.
- DOI
- 10.2307/2330634
- Volume
- 13
- Issue
- 5
- Pages
- 903
- Sources
- openalex crossref