We contrast the time-series and cross-sectional performance of three popular investment
strategies: carry, momentum and value. While considerable research has examined the …

Combining their corporate and academic experiences, Jamil Baz and George Chacko offer
financial analysts a complete, succinct account of the principles of financial derivatives pricing…

Empirical evidence suggests that forward exchange rates are biased predictors of future
spot exchange rates. Currencies with higher nominal interest rates tend to appreciate rather …

In this article, the authors estimate a model establishing the casual relationships between
equity and government bond returns. They show that the relationship between stocks and …

There is an ongoing controversy in financial economics regarding the role of time horizon in
portfolio selection. This problem is relevant in a broader context, wherever consumers or …

The key trade-off among equity-risk-mitigation strategies is their expected return versus their
ability to diversify equity risk. In particular, the more reliable a strategy’s equity-hedging …

The illiquidity discount is the valuation discount investors apply to investments as
compensation for their lack of immediate marketability. The authors analyze the concept of the …

This book offers a complete, succinct account of the principles of financial derivatives pricing.
The first chapter provides readers with an intuitive exposition of basic random calculus. …

A long period of elevated asset valuation raises some fundamental questions. How can assets
sustain prices way above their fundamental value for extended periods of time? Why are …

Carotenoid cleavage dioxygenases (CCDs) form hormones and signaling molecules. Here
we show that a member of an overlooked plant CCD subfamily from rice, that we name …