Journal of Portfolio Management

Article	Citations
Risk in Risk Aversion	29
Stocks, Bonds, Bills, and Inflation’s Components	20
How Misunderstanding Factor Models Set Unreasonable Expectations for Smart Beta	16
How Transitory Is Inflation?	16
Personalized Inflation-Hedging Strategies	14
When Factors Collide: Mapping Causal Spillovers across Global Asset Networks	13
A Causal Analysis of the Monetary Transmission Mechanism	12
Financial Network and Industry Connectedness	11
ESG Integration in Multi-Asset Portfolios: The Trade-Off Between Sustainability and Factor Stability	11
When Is Reversal Strong? Evidence from Developed Markets	10
The Tokenization Paradox: Why Faster Isn’t Always Safer	10
The AI Revolution: From Linear Regression to ChatGPT and beyond and How It All Connects to Finance	10
Interview with Ian Toner of Verus	9
Twenty Years of the Real Estate Special Issue: What Might the Next Twenty Years Bring?	9
A CIO’s Perspective on ESG Investing	9
Equity Convexity under Major Monetary Policy Shift	9
webinar summary Multi-Asset Strategies Webinar	9
webinar summary Fixed Income Investing	8
Honey, the Fed Shrunk the Equity Premium: Asset Allocation in a Higher-Rate World	8
Prolegomena to Any Future Monetary Policy	8
Interview with Gerald Garvey of Blackrock	7
Minimum Downside Risk Portfolios	7
Range-Based Volatility Timing	6
Comparing Methodologies for ESG Integration into Equity Factor Construction	6
Tactical Asset Allocation, Risk Premia, and the Business Cycle: A Macro Regime Approach	6

Better Opt Out? Revisiting the Predictive Power of Options-Implied Signals	6
Decomposing Countries’ Consumption in Active Portfolio Management: A Black–Litterman Application	6
From Economics to AI: Integrating Discretionary and Quantitative Approaches in Asset Management	6
Increasing the Transparency of Pricing Dynamics in the US Commercial Real Estate Market with Interpretable Machine Learning Algorithms	5
Materiality-Weighted Portfolio Carbon Footprint: A More Accurate Measure for Transition Risk	5
Global Equity Market Volatility during the Initial Stages of the COVID-19 Pandemic: Drivers and Policy Responses	5
Forecasting Stock Market Volatility	5
Integrating Sustainability into Asset Management: Challenges and Opportunities	5
Editors’ Introduction to the 2022 Special Issue on Novel Risks and Sources of Volatility: Identification and Measurement Challenges for Portfolio Management	5
Flattering or Really Understanding? Research on Stock Recommendations by Sell-Side Analysts in China	5
Is Momentum a Risk Factor? Evidence from Option-Implied Expected Returns	4
Large Language Models for Financial and Investment Management: Models, Opportunities, and Challenges	4
Corporate Bonds and Climate Change Risk	4
Asset Allocation for Retirement Income: A Framework for Income-Oriented Investors	4
Why State-Dependent Discounting Matters for Climate-Sensitive Securities	4
Equity Tail Protection Strategies Before, During, and After COVID-19	4
When DoandWhichFama–French Factors Explain Industry Returns?	4
Misleading Returns: How Ignoring Cash Flows Can Result in Performance Measurement Errors	4
Stock Vulnerability and Resilience	4
Interview with Sebastien Page of T. Rowe Price	4
On the Relevance of Variances and Correlations for Multifactor Investors	4
Carbon Risk Factor Framework	4
An Overview of Optimization Models for Portfolio Management	4
Modernizing Volatility-Managed Strategies	3
Comparing Downside Protection Strategies	3
Systematic Insights into Private Equity Investing	3
The False Promise of Drawdown Rules: New Evidence and a Better Framework	3
Vocal Delivery as a Novel Risk Indicator: Evidence from Corporate Earnings Calls	3
Sizing Matters: Optimal Scaling of Long and Short Exposures in Equity Portfolios	3
Information Ratio = Selection × Breadth + Sizing	3
Smarter Beta Investing: More Focus, Less Sustainability Bias, Same Performance	3
Interview with Harshdeep Singh Ahluwalia and Roger Aliaga-Diaz of Vanguard	3
Untangling Universality and Dispelling Myths in Mean–Variance Optimization	3
Impact of ESG Objectives on a Portfolio	3
Does Real Estate Development Add Value?	3
Factor Information Decay: A Global Study	3
Reference-Dependent Preferences for Lottery-Like Stocks: Cash Flow Risk and Credit Market Conditions	2
A “Quality” Quality Factor	2
The Link Between Physical and Transition Climate Risk	2
A Tour of the Factor Funhouse	2
The Economic Value of Frequency-Domain Information	2
Multi-Asset Portfolios in the New Order	2
Investor Information Interaction and Stock Price Co-Jumps	2
Climate Change Uncertainty and Volatility of Clean Energy Portfolios: An Asset Pricing Perspective	2
Mean–Variance Analysis, the Geometric Mean, and Horizon Mismatch	2
False Precision in Portfolio Construction: Misconceptions That Undermine Asset Allocation	2
Value for Equity Index Options: Expected—Not Realized—Volatility and the Distribution of Forecasts	2
How Should the Long-Term Investor Harvest Variance Risk Premiums?	2
Interview with Kari Vatanen of Elo Mutual Pension Insurance Company	2
Reinforcement Learning for Asset and Portfolio Management	2

From News to Signals: Agentic Workflows for Qualitative Investment Research	2
The Power of Narrative Attention: Linking Geopolitical and Economic Storylines to Currency Risk and Return Predictability	2
Operating Leverage and Inflation	2
Pricing Factors and Causal Networks for US Industry Portfolios	2
Picking Winners in Factorland: A Machine Learning Approach to Predicting Factor Returns	2
Time-Zero Direct Alpha: Investment-Level Calculations for Improved Skill Evaluation	2
Thinking Outside the Benchmark: Part II	2
Inflation-Induced Overearnings	2
Narrative Factors: A Dynamic Factor Framework for Risk Management and Alpha Generation	2
Putting the Long Term to Work: Shaping the Prudent Society Investment Model	2
Graph Neural Networks in Asset and Investment Management: An Overview for Practitioners	2
Press Freedom as a Risk Factor: Effects on Volatility and Uncertainty	2
Editor’s Introduction for the 2024 Special Issue on Multi-Asset Strategies and Asset Allocation	2
Social Awareness in Real Estate Investment: What Should Investors Do about the “S” in ESG?	2
Supply Chain and Correlations	2
Weak Feedback and Denial Are Killing Active Management: A Slow Death, Perhaps, but One That Is Avoidable	2
Read All About It: News Interpretation and Price Efficiency across the Capitalization Spectrum	2
Interview with Mark Anson, CEO, Commonfund	2
Investing as Owners Rather Than Traders: How Pension Funds Can Transform Capitalism	2
How to Diversify Differently: Time-Varying Correlations, Determinants, and Regimes	2
Global Bond Allocation Using Duration Times Spread	2
Do Corporate Carbon Emissions Data Enable Investors to Mitigate Climate Change?	1
Agent Investing: A Constructive Approach	1
Portfolio Selection Redux, or, How the Paradox of Portfolio Efficiency Can Be Used to Improve Portfolio Performance	1
Sustainability Disclosure and Financial Performance: The Case of Private and Public Real Estate	1
Formula Investing	1
Using a Mean-Changing Stochastic Processes Exit–Entry Model for Stock Market Long–Short Prediction	1
The Tyranny of IRR	1
Diversification Is Dead, Long Live Diversification!	1
Interview with Eric H. Sorensen of PanAgora Asset Management	1
Low Risk, High Variability: Practical Guide for Portfolio Construction	1
Compensated and Uncompensated Risks in Global Factor Investing	1
Demystifying FinBERT: How Transformer Models Turn Financial Text into Market Insights	1
What to Do with All These Currencies?	1
Optimal Strategies for Digital Assets with No Fundamental	1
Oversight Risk: How Committees Shape Portfolios	1
Measuring Market Risk in Asset Management	1
Interview with Shaojun Zhang Formerly of Vanguard	1
Editor’s Introduction to the Special Issue on Portfolio Manager Perspectives	1
Price of Risk: Are Volatility-Controlled Indices Priceless?	1
Domesticating the Factor Zoo with Economic Theory	1
Strategic Asset Allocation with Alternative Investments: An Integrated Approach	1
The Hierarchy of Empirical Evidence in Finance	1
Institutional Investors as Architects of Change: Toward a New Theory of Firm Value Creation	1
Diversification and Asset Allocation in the Post-COVID Era	1
Enhanced Backtesting for Practitioners	1
Things I Expected Would Have Changed by Now (But Have Not)	1
Reminiscences on an Extraordinary Gentleman	1
Why Do Equally Weighted Portfolios Beat Value-Weighted Ones?	1
Unnatural Selection in Private Equity Real Estate?	1
Equity Performance after Follow-On Offerings: A Modern Reexamination with Portfolio Applications	1
Harry Markowitz’s Two Intellectual Children: Mean–Variance and Behavioral Portfolio Theories	1
Shrinking the Size Effect	1
Bayes Rule and the Selection of Investment Managers	1
Fat and Heavy Tails in Asset Management	1
The Roots of Dispersion	1
Paradigm Shift: Embracing Holism in Causal Modeling for Investment Applications	1
(Re)Balancing Act: The Interplay of Private and Public Assets in Dialing the Asset Allocation	1
Building a Regime-Resilient ERC Portfolio	1
Financial Networks and Portfolio Management	1
Editor’s Introduction for the 2026 Special Issue on Factor-Based Investing	1
Tax-Aware Portfolio Construction: A Multi-Asset Approach	1
Interview with Ronald Hua of Qtron Investments	1
Bond and Stock Risk Premium Cycles: Implications for Asset Allocation	1
AI and Decision-Making in Investment—Why We Will Not Return to the Cave	1
Factor Zoo (.zip)	1
The Contribution of a Constituent Time Period-Asset Pair: Longitudinal Decompositions	1
A Topological View of Financial Markets: Rethinking Markets as Shapes with Hidden Structure: Conceptual Framework and Portfolio Implications	1
Sharpe Ratio Inference: A New Standard for Decision Making and Reporting	1
Perspective: Asset Classes versus Risk Factors or Asset ClassesandRisk Factors?	1
Estimating the Alpha and Beta of Private Capital Using State Space Modeling and Bayesian Inference	1
The Mean–Variance Rule and Expected Utility: The Multi-Period Case	1
Relevance-Based Importance: A Comprehensive Measure of Variable Importance in Prediction	1
Editor’s Introduction for the 2025 Special Issue on Factor-Based Investing	1
Wisdom of the Crowds or Ignorance of the Masses? A Data-Driven Guide to WallStreetBets	1
History Repeats Itself? The Nonstationarity Hazard	1
Timing and Sizing Skills of Systematic Strategies across Time and Economic Regimes	1
Structural Benchmark Drift and Hidden Peer Risk: Governance Implications for Active Equity Management	1
Interview with Marcos López de Prado of Abu Dhabi Investment Authority (ADIA)	1
Regulatory Design, Governance Incentives, and Portfolio Convergence: Lessons from Finland’s Pension Reform	1

Further Applications of Mean–Variance Optimization	1
Does an Economic Profit Strategy Outperform the Market? A Long-Term Study Using EVA-Style Analysis	1
A Framework for Attributing Changes in Portfolio Carbon Footprint	1
William T. Ziemba and a Brief Look at HisJournal of Portfolio ManagementLegacy	1
Interview with Gene Podkaminer of Capital Group	1
Editor’s Introduction for the 2025 Special Issue on Multi-Asset Strategies and Asset Allocation	1
Implementing AI Foundation Models in Asset Management: A Practical Guide	1
Governance Models for a Changing Asset Management Landscape	1
Inflation Hedging: A Dynamic Approach Using Online Prices	1
Markowitz Remembrance	1
Strategic Asset Allocation and Inflation Resilience	1
A Changing Stock–Bond Correlation: Drivers and Implications	1
Return–Risk Analysis of Real Estate Tokens: An Asset Class of Its Own	1
Interview with Andrew Chin of AllianceBernstein	1
Climate Output at Risk	1
Using Large Language Models to Estimate Novel Risk: Impact on Volatility	1
Allocation-Focused Regimes and Applications to Dynamic Factor Investing	1
Rebuffed: An Empirical Review of Buffer Funds	1
The Factor Edge: Optimized Private Debt Investing	1
Forecast Aggregation and Predictive Value	1
The Case for Integrating ESG into Fixed-Income Portfolios	0
The Next Accounting Frontier: Bringing Structure and Reliability to NLP	0
The Impressive Markets Hypothesis: Prices (Still) Forecast Fundamentals	0
Portfolio Selection: Efficient Diversification of Investments, 1959	0
The New Risk and Return of Venture Capital	0
Dynamic Asset Allocation Using Machine Learning: Seeing the Forest for the Trees	0
Trends and Cycles of Style Factors in the 20th and 21st Centuries	0
Forecasting Stock–Bond Correlation	0
Interview with Gerald W. Buetow of BFRC Services, LLC	0
Filled and Killed: Forecast and Realized Trading Costs across Horizons from Global Equity and Fixed Income Portfolio Trades	0
Editor’s Introduction for 2023 Special Issue on Quantitative Tools for Asset Management	0
Applying the Appraisal Ratio and Style Analysis to Total Portfolio Management	0
Interview with Wesley Phoa of Capital Group	0
On Risk Parity Performance	0
Long-Term Stock Market Risks and Returns: Insights from the Perspective of a Global EUR Investor	0
Stress Testing in a World of Compound Risks and Polycrises	0
Interview with Daniel Farley of State Street Global Advisors	0
Does Macro Matter? Integrating Macroeconomic Insights into Portfolio Construction	0
Low–Risk Alpha without Low Beta	0
Monte Carlo Simulation in Financial Modeling	0
Improving the Accuracy of Tail Risk Forecasts	0
Co-Occurrence: A New Perspective on Portfolio Diversification	0
When Valuation Fails	0
The Markowitzatron: From Modern Portfolio Theory to Modern Petroleum Theory	0
The Cost of Investment Hubris	0
The Rise in Systematic Credit Investing	0
Portfolio Concentration and Stock-Specific Risk	0
Dissecting the Value Premium: A Novel Market-to-Book Decomposition	0
Interview with Vince Childers and Jeffrey Palma of Cohen & Steers	0
Institutional Investors in the Single-Family Rental Market	0
Do Scope 3 Carbon Emissions Impact Firms’ Cost of Debt?	0
A Century of Macro Factor Investing—Diversified Multi-Asset Multi-Factor Strategies through the Cycles	0
Robustness in Portfolio Optimization	0
Deep Learning in Asset Management: Architectures, Applications, and Challenges	0
The Dynamic Impact of Macro Factors on the Performance of Blended Real Estate Equity Strategies	0
Editors’ Introduction to the Special Issue on CIO Perspectives	0
A Topological View of Financial Markets: Rethinking Markets as Shapes with Hidden Structure: Applications for Portfolio Construction	0
Editor’s Introduction to the Special Issue on Investing in Private Markets	0
The Case for Causal Factor Investing	0
A Framework for the Analysis of Unfolding Financial Crises	0
Takahashi–Alexander Revisited: Modeling Private Equity Portfolio Outcomes Using Historical Simulations	0
Interview with David A. Mascio of Della Parola Capital Management	0
Applications of Portfolio Theory to Accelerating Biomedical Innovation	0
Return to Active Equity Management	0
Venture Capital Financing in Europe: Gender and Ethnic Diversity in Founder Teams	0
Interview with Sébastien Page of T. Rowe Price	0
Editors’ Introduction: The Birth of Portfolio Theory	0
International Diversification—Still Not Crazy after All These Years	0
Value versus Values: What Is the Sign of the Climate Risk Premium?	0
Non-Core Real Estate Returns: An Empirical Approach	0
Back to the Roots: Three Reflections on Financial Analysis	0
Some Practical Considerations for the Total Portfolio Approach to Pension Fund Management	0
Interview with Jean-Charles Bertrand of HSBC Asset Management	0
Modeling Models: Factor and Risk Decompositions of Model Portfolio Strategies	0
Resurrecting Earnings-to-Price with Robust Control for Outliers	0
Selecting Investment Analytic Framework for Both Top-Down and Bottom-Up Investors: Using Global Equity as the Example	0
Policy Regimes versus Economic Regimes: Implications for Portfolio Construction	0
Leveling the Divide Between Discretionary and Systematic Investing: How AI Enables Breadth and Depth	0
Editor’s Introduction for the 2026 Special Issue on Multi-Asset Strategies and Asset Allocation	0
Eggs in a Basket: Harry Markowitz’s Contribution and How I Achieved Erdős 3	0
Editor’s Introduction for 2024 Special Issue on Factor Investing	0
Quantifying the Returns of ESG Investing: An Empirical Analysis with Six ESG Metrics	0
Seeking Better Sharpe Ratio via Bayesian Optimization	0
Managing Compound Risks in a Polycrisis World: Conference Overview	0
Incorporating Imputed Signal Values Efficiently in Portfolio Construction	0
Benchmarks Differ. Then They Get Revised	0
Interview with Victor Haghani and James White of Elm Wealth	0
Network Models in Asset Management: Construction, Metrics, and Investment Applications	0
How Many Is Too Few? Revisiting the Number of Names in Equity Portfolios	0
Fact, Fiction, and Factor Investing	0
Style Investing, Mutual Fund Flows, and Return Comovement	0
Time-Varying Factor Allocation	0
Strategic Discipline: How Asset Management Mirrors Military Operations	0
Editors’ Introduction to the 2025 Special Issue on Novel Risks and Sources of Volatility: Identification and Measurement Challenges for Portfolio Management	0
Total Portfolio Approach	0