id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
abr-6	Howe, Thomas S.; Pope, Ralph A.	Long-Run Risk of Dynamic Asset Allocation Strategies	2014	17	.pdf	application/pdf	7563	303	57	For downside risk measures, L equals 0 for all observations above the benchmark while for risk measures which consider all observations L equals 1 for all observations above the benchmark. However, evidence that investors prefer positive skewness (Kraus and Litzenberger 1976) and that deviations below the mean weigh two or more times as heavily on investors’ minds than deviations of equal magnitude above the mean (Tversky 1990) suggests that downside risk measures are more appropriate than risk measures which consider upside and downside deviations equally.	cache/abr-6.pdf	txt/abr-6.txt