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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10197/519
This item was peer reviewed 
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| Currently seeking full text.pdf | | 4Kb | Adobe PDF | View/Open |
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| Title: | All their eggs in one basket : portfolio diversification of US households |
| Author: | Kelly, Morgan |
| Author web links: | Morgan Kelly (web page) |
| Author contacts: | Email: morgan.kelly@ucd.ie; Tel: 353 1 716 8611 |
| Date: | Jun-1995 |
| Full citation: | Journal of Economic Behavior and Organization, 27 (1): 87-96 |
| Publisher: | Elsevier Science B.V. |
| Type of material: | Journal Article |
| Abstract: | This paper uses data from the Survey of Consumer Finances to assess how well mean-variance efficiency describes the portfolio diversification of US households. It does not seem to work well. The median stockholder owns a single publicly traded stock, often in the company where he works. Looking at a sample of high income households who accounted for one third of all publicly traded stock, the median holding is only ten stocks. Indirect stock ownership through mutual funds, defined contribution pension plans, IRA's and trust funds is shown to have little power in explaining this poor diversification. |
| Web link to reference this item: | http://hdl.handle.net/10197/519 |
| ISSN: | 0167-2681 |
| DOI: | 10.1016/0167-2681(95)00006-E |
| Keywords: | Portfolio diversification; |
| NEREUS JEL code: | G11; G14; |
| Subject Heading: | Portfolio management--United States; Finance, Personal--United States; Individual investors--United States; |
| Other web versions: | Publisher's version |
| Status of Item: | Peer reviewed |
| Availability: | Currently seeking full text |
| Appears in Collections: | Economics Research Collection
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