Video

Prospective Utility and Time-varying Optimal Asset Allocation for the UK 1803-1995

Stephen Thomas, Professor of Finance at Cass Business School introduces the optimal asset allocations across a two-century period for the UK, in the context of a range of plausible investment evaluation periods, finally demonstrating that both the frequency of evaluation which achieves indifference between equities and bonds, and the optimal asset allocation profile, vary significantly over time.