Efficient Frontier
      Efficient Frontiers Logo

      An Online Journal of Practical Asset Allocation

      Edited by William J. Bernstein

      October 1997


      What's Wrong with this Picture?
      (From Value Line, 10/17/97)





      Table of Contents


      • Do Fund Managers Exhibit Skill? -- A Comparison with Major League Hitters

      • Mean Reversion and You

      • Even the Best Don't Get it Quite Right

      • Roll Your Own -- Finally, an affordable, easy to use free standing optimizer

      • Link of the Month: Global Financial Data -- Brian Taylor's Superb Overview of Stock and Bond Returns Around the Globe, and over the Centuries

      • What is the Long Term Return of Precious Metals Equity? Part II

      • What's the Proper Bond Duration for Your Portfolio?

      • The Brinson 93.6% Hoohah -- The Tale of the Blind CFAs and the Portfolio

      • Do Not Dollar-Cost-Average for More than Twelve Months -- Everything you wanted to know about the risks and benefits of Dollar Cost Averaging, by Bill Jones

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        copyright (c) 1997, William J. Bernstein