期刊名称：Discussion Papers in Economics / Department of Economics, University of York
出版年度：2016
卷号：2016
出版社：University of York
摘要：Sequence risk is a poorly understood, but crucial aspect of the risk faced by many investors. Using US equity data from 1872-2015 we apply the concept of Perfect Withdrawal Rates to show how this risk can be significantly reduced by applying simple, trend following investment strategies. We also show that knowing the CAPE ratio at the beginning of a decumulation period is useful for predicting and enhancing the sustainable withdrawal rate.
