Jeffrey A. Livingston

Hans Christian Faergemann1
Erik Sonne Noddeboe1
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Undiversifiable (or systematic risk) has long been an enemy of investors. Many countercyclical strategies have been developed to counter this. However, like all insurance types, these strategies are generally costly to implement, and over time can significantly reduce portfolio returns in long and extended bull markets. In this paper, we discuss an(More)
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