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- W4248504067 abstract "The following is a correction to an article published in The Journal of Finance, December 1981. On the right-hand side, let A equal the summation of the first three terms, B equal the coefficient of 1/N, and C equal the coefficient of ( 1 / N 2 ). The extrema condition of the equation is given by N = − 2 C B which is Equation (2.6). There are four cases to consider just as in the original article. Thus our original findings of zero, limited, and complete diversification in perfect markets still obtain but not under the circumstances we described. It is evident that the theoretical case for anti-diversification is more general than we originally thought. The speculation ratio would appear to take on added importance given these new conditions. The generality of our original summary maintains. We thank Professor Alan Gelfand for bringing to our attention the above corrections." @default.
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- W4248504067 date "1982-09-01" @default.
- W4248504067 modified "2023-10-14" @default.
- W4248504067 title "On Diversification Given Asymmetry in Returns: Erratum" @default.
- W4248504067 doi "https://doi.org/10.2307/2327772" @default.
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