Experience Stern | News & Events

Excerpt from San Francisco Chronicle -- "A March 2010 study by Malcolm Baker, Brendan Bradley and Jeffrey Wurgler, published in the Jan./Feb. 2011 Financial Analysts Journal and entitled, 'Benchmarks as Limits to Arbitrage: Understanding the Low-Volatility Anomaly,' demonstrated that from Jan. 1968 to Dec. 2008 portfolios of low-risk stocks actually outperformed portfolios of high-risk stocks by a whopping margin. "