Must-Read: Laurent Bach, Laurent Calvet, and Paolo Sodini: Risk, return, and skill in the portfolios of the [Swedish] wealthy: “Administrative data… the wealthy indeed earn higher returns on their asset portfolios… http://voxeu.org/article/risk-return-and-skill-portfolios-wealthy …primarily due to high levels of compensated risk. Households at the top of the wealth distribution further exhibit highly heterogeneous investment performance due … Continue reading Must-Read: Laurent Bach, Laurent Calvet, and Paolo Sodini: Risk, return, and skill in the portfolios of the [Swedish] wealthy