This long horizon return
will require state leadership to protect and ensure that it is maintained.
While yield to call can look attractive under certain circumstances, buyers should take into consideration the lower reinvestment rates that will be offered for subsequent investments and should calculate an overall horizon return
. Public investors must remember that they are not in the business to make market bets on the direction of interest rates 5-10 years into the future.
The concept of horizon return
, which encompasses all of the potential sources of dollar return and which may be different from maturity value, is introduced.
The Horizon returned
to Santa Barbara Island on two subsequent voyages; captain Cary Humphries reported to the author that on 12 July 2016 and 16 July 2016, one sea otter was observed in the same kelp bed where the author had first located an otter on 2 July 2016.
Vertical Horizon returns
to Manila for a show on June 5 at Newport Performing Arts Theater of the Resorts World Manila.
As the figure shows, uncertainty about predictable returns cuts the increase in stock allocation from one to ten years in half In addition to the positive correlation of returns due to learning about their mean mentioned above, uncertainty about the true amount of predictability adds to the risk (including parameter risk) of longer horizon returns
Assessing Long Horizon Returns
: Issues and Research Method
This model, termed the Equal Weighted Relative Strength (EWRS) model, examines the relative strength of fund performance by testing the serial correlation of evaluation horizon returns
with that of the fund's investment period returns.