id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
fsr-3878	Ho, Kwok; Milevsky, Moshe Arye; Robinson, Chris	International equity diversification and shortfall risk	1999	15	.pdf	application/pdf	7059	367	59	1P3, Canada Abstract International equity diversification benefits Canadian investors very substantially by reducing shortfall risk, as shown by results of a model that minimizes the risk of shortfall from a desired consumption level for a retired investor with an unknown date of death and stochastic investment returns. Specifically, we use minimization of shortfall risk as the choice criterion for an individual investor who is retired, and hence has no further labour income to support consumption, only an endowment from which he or she can consume both principal and income.	cache/fsr-3878.pdf	txt/fsr-3878.txt