Research Papers

Our experts have published extensively in peer-reviewed journals. Pre-publication versions of these papers plus other working papers are available below.

Displaying 2 out of 2 results

Concentrated Investments, Uncompensated Risk and Hedging Strategies

By: Craig McCann and Dengpan Luo (Dec 2004)

In this paper, Dr. McCann and Dr. Luo explore the risk of holding concentrated investments and explain and evaluate risk management strategies.

The Use of Leveraged Investments to Diversify a Concentrated Position

By: Craig McCann and Dengpan Luo (Jun 2004)

Published in the Securities Arbitration 2004 Handbook PLI.

Brokerage firms recently recommended that investors holding a concentrated position in a single stock borrow and invest in a portfolio of additional stocks to reduce risk. Dr. McCann and Dr. Luo demonstrate that this strategy to reduce risk predictably did exactly the opposite.

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