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When allocating their financial portfolios between equities and risk-free assets, what should investors with bond-like human capital do as they age? How about investors with
When allocating their financial portfolios between equities and risk-free assets, what should investors with bond-like human capital do as they age? How about investors with stock-like human capital? For what type of human capital does the traditional financial planning advice appear to be correct from the point of view of financial theory?
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