Realistic Portfolio Allocation Decision-Making for the Small U.S. Retail Investor

Posted: 3 May 2005

See all articles by Michael J. Seiler

Michael J. Seiler

Hawaii Pacific University - Department of Finance

Vicky L. Seiler

Johns Hopkins University

Abstract

This study introduces new domestic mixed-asset and international equity securities that allow for exact portfolio replication even by small U.S. retail investors. Using these new series, various return characteristics are examined. Finally, three sets of mean-variance analyses are conducted: a domestic equity sector-only portfolio, a domestic mixed-asset portfolio, and an international mixed-asset portfolio. Real estate warrants inclusion to varying degrees in all three portfolios. International equity inclusion was also demonstrated.

Keywords: International real estate, portfolio analysis, retail investor

Suggested Citation

Seiler, Michael J. and Seiler, Vicky L., Realistic Portfolio Allocation Decision-Making for the Small U.S. Retail Investor. Journal of Real Estate Finance and Economics, Vol. 31, No. 3. Available at SSRN: https://ssrn.com/abstract=715064

Michael J. Seiler (Contact Author)

Hawaii Pacific University - Department of Finance ( email )

1132 Bishop Street, Suite 504
Honolulu, HI 96813
United States
808-544-1827 (Phone)
808-544-9306 (Fax)

Vicky L. Seiler

Johns Hopkins University ( email )

Baltimore, MD 20036-1984
United States

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