000			01242cab a2200265 4500
001			ABS46074
008			090401t xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u56711
041			_aeng
100			_aLizieri, C.
245			_aVariance of property returns : some problems of time-weighted measures
260			_c10(2) Winter 1991/92, 541-547(4)
350			_a0
490			_aJournal of Property Valuation and Investment _v10(2) Winter 1991/92, 541-547(4)
520			_aThe use of the geometric mean as a measure of average return on investment presents problems for estimating the variance as a measure of risk, and use of a measure based on the arithmetic mean seems an uncomfortable compromise. Measures based on the geometric are also shown to be systematically biased in the case of log normal returns : a case study shows that this can have major consequences for investment decision making and portfolio selection. References. (Journal abstract)
650			_aARITHMETIC MEAN
650			_aGEOMETRIC MEAN
650			_aINVESTMENT ANALYSIS
650			_aPROPERTY INVESTMENT
650			_aRETURNS
690			_aPROPERTY-PROPERTY FINANCE AND INVESTMENT
700			_aSatchell, S.
942			_n0
948			_c04/03/1997
999			_c34613 _d34613