Abstract
In this chapter, Oyster highlights a number of challenges investors may face in the future as well as opportunities that can enhance returns. Following a period of exceptionally strong stock market returns, stock prices became elevated strongly suggesting that when combined with the lack of a declining interest rate environment, it could lead to disappointing future stock market returns. Expecting outperformance from traditional stock-picking mutual funds, Oyster surmises, is not likely to make up the shortfall. Low-cost indexing can outperform the average mutual fund, but opportunities to achieve outperformance exist. These include effective asset allocation, smart beta, and private equity. Additionally, Oyster indicates that monetizing the Volatility Risk Premium can help investors achieve performance goals.
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Alex Shephard, “Minutes, News and Notes,” TheNewRepublic.com. 2015.
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Oyster, M.J. (2018). Epilogue. In: Success in a Low-Return World. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-99855-8_20
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DOI: https://doi.org/10.1007/978-3-319-99855-8_20
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Online ISBN: 978-3-319-99855-8
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