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Question 5 The main critique of the BHB ( 1 9 9 5 ) study as outlined in Hensel, Ezra, and Ilkiw ( 1 9
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The main critique of the BHB study as outlined in Hensel, Ezra, and Ilkiw was that:
There was no rebalancing done to the portfolio
BHB incorrectly included some corporate bonds in their initial portfolio
The BHB portfolio inappropriately started as 'all cash'
The quarterly rebalances was done inappropriately
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