Publications (refereed)
"Asset Allocation Based on Accumulated Wealth and Future Contributions," Journal of Economics and Economic Education Research, 2013.
"Do Leveraged ETF's Rebalancing Trades Magnify Big Market Moves," co-authored with Gary Shelley, International Academic Research Journal of Economics and Finance, Vol. 1 Is. 5, 2013.
"Forecasting Holding Periods for Leveraged ETFs Using Decay Thresholds," co-authored with Mark Carroll, Journal of Financial Studies and Research, 2013.
"Volatility and Compounding Effects on Beta and Returns," The International Journal of Business and Finance Research , 2012.
"Transforming Rubrics Using Factor Analysis," co-authored with Ed Baryla and Gary Shelley, Practical Assessment, Research & Evaluation, 17(3), 2012. Available online: http://pareonline.net/pdf/v17n4.pdf .
"Solving the Leveraged ETF Compounding Problem," Journal of Index Investing, Vol. 1, No. 4, 2011, pp. 66-74.
"Daily vs Monthly Rebalanced Leveraged Funds," Journal of Finance and Accountancy, Vol. 6, 2010, pp. 1-14.
“Performance Measurement of High Yield Bond Mutual Funds,” Management Research Review, Vol. 33, No. 6, 2010, pp. 609-16.
“Do Leveraged ETFs Increase Volatility,” Technology and Investment, Vol. 1, No. 3, 2010, pp. 215-20.
“Target Date Fund’s Tradeoff of Expected Return for Reduced Risk,” Business Quest, 2008, pp. 1-10.
“Funding Status Projections for Southern Public Teaching Pension Plans,” co-authored with Rochelle, C., Atlantic Economic Journal, Vol. 36, Is. 1, 2008, pp. 77-87.
“An Inter-fund Analysis of Bank Loan Mutual Funds,” co-authored with Chan, K.C. and Chan, L., Journal of Personal Finance, Vol. 7, No. 2, 2008, pp. 48-61.
“Leveraged ETFs: A Risky Double That Doesn’t Multiply by Two,” co-authored with E. Baryla, Journal of Financial Planning, Vol. 21, No. 5, May 2008, pp. 48-55. Summarized in CFA Digest, Feb. 2009.
“A Lesson On Market Timing: How Students Fail to Beat the Past,” Advances in Financial Education, Vol. 6, 2008, pp. 136-45.
“Performance Analysis of Emerging Market Bond Mutual Funds,” Journal of Emerging Markets, Fall-Winter, Vol. 12, 3, 2007, pp. 609-16.
“Senior Loan funds as a Money Market Alternative,” co-authored with Chan, K.C. and E. Wolfe, Journal of Investing, Vol. 16, No. 4, 2007, pp. 108-16.
“Bank Loan Funds: Investing Beyond T-bills,” co-authored with Chan, K.C., Journal of Financial Planning, Vol. 20, No. 2, 2007, pp. 60-8.
"High Yield Bonds in Optimally Efficient Portfolios," co-authored with Edward Wolfe, Journal of Personal Finance, Vol. 5, Is. 3, 2006, pp. 76-86.
"A Short-Term Risk Measure Unrelated to Long-Run Returns: CAPM’s Beta; Examination of Previous Research,” Journal of Business and Economic Perspectives, Vol. 32, No. 7, Winter/Summer 2006, pp. 190-97. Received a Best Presentation and Paper Award at the Academic Business World Conference, May, 30, 2006.
"Within-Horizon Exposure to Loss for Dollar Cost Averaging and Lump Sum Investing," Financial Services Review, Vol. 14, Is. 4, 2005, pp. 319-330.
“Conditional Testing of Beta and the CAPM during 1993-2002,” Journal of Academy of Finance, Vol. 3 (2), 2005, pp. 11-19.
"Long-Range Confidence Interval Projections and Probability Estimates,” Financial Services Review, Vol. 14, Is. 1, 2005, pp. 73-84.
“Market Timing and the Use of Protective Puts,” co-authored with Chris Brown, Academy of Accounting and Financial Studies Journal, Vol. 7, No. 3, 2003, pp. 99-108. Received Distinguished Research Award from the Academy of Financial Studies.
“Factors Affecting College Student Alcohol Consumption,” Virginia Economics Journal, 2003.
“An Analysis of Sub-Saharan African Economic Growth and Implications for Corporate Investment,” co-authored with Yaw Badu and Lynda H. Murray-Jackson, The Journal of Current Research in Global Business, Vol. 4, No. 6, 2002, pp. 60-68.
"Examining the Gender Gap in Virginia’s Historically Black College Universities,” The Southern Business and Economics Journal, Vol. 24 (2), April, 2001, pp. 115-27.
“A Comparative Analysis of the Virginia Retirement System vs Optional Retirement Plan for Academic Employees,” Virginia Economic Journal, 1999.
"Sufficiency Conditions for Inclusion of One Asset Over Another in Investment Portfolios," received an award for the Outstanding Doctoral Student Paper at the 1993 Eastern Finance Association, Financial Review, Vol. 33 (3), August 1998, pp. 169-82.
"Bills, Notes, Bonds or Stock? A Return-Risk Differential Examination", Occasional Papers: Current Issues in Business, Spring 1996, pp. 45-52.
"Look Before You Leap on the Yield Curve," co-authored with P. Kressler, Treasury Management Journal, March/April 1996, pp. 7-9.
"The One-Year T-Bill's Outstanding Predictive Performance for Stock Returns," Business Matters, Rowan University, December 1995.
Publications (Not refereed)
“The Effect of Time, Trend, Volatility, and Leverage on Relative Returns,” Comprehensive study on leveraged ETFs published and funded by Direxion Funds, http://www.direxionshares.com/education_literature.html, Dec. 2009, pp. 1-29.
“Dynamics of Momentum Investing,” Published by Forbes Investor Advisory Institute. This was a research project for their newsletter, 2005.
“Here’s Your Chance to Make Millions in the Stock Market,” National Council on Economic Education’s EconEdLink web site under NetNewsLine. An interactive learning exercise, three parts. November, 2002.
Part 1, “Why Making Millions is Not so Easy”,
Part 2: “An Historical Stock Jaunt: 1920's Through WWII,”
Part 3: “An Historical Stock Jaunt: Post WWII through 2001,” November, 2002.
“The Controversial School Voucher Issue,” National Council on Economic Education’s EconEdLink web site which provides economic education for grades k-12, 2001.