Insights | Research from State Street Markets | Portfolio Choice with Path-Dependent Preferences

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Anticipate market trends with data-driven measures of aggregate flow and positioning, high-frequency inflation, media sentiment, risk regimes, and more.

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Gain deeper vision on market turning points, risks, and opportunities with daily views and analysis on equity, fixed income, and currency markets.

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Portfolio Choice with Path-Dependent Preferences

By Mark Kritzman, David Turkington, State Street Associates

Jul 1, 2020

We show why mapping sequences of economic outcomes leads to a richer understanding of scenarios, probabilities and portfolio returns.

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1.Peter L. Bernstein Award for Best Article in an Institutional Investor Journal in 2013; Doriot Award for Best Private Equity Research Paper in 2022; Bernstein-Fabozzi/Jacobs-Levy Award for Outstanding Article in the Journal of Portfolio Management in 2006, 2009, 2011, 2013 (2), 2014, 2015, 2016, 2021; Roger F. Murray First Prize for Research Presented at the Q Group Conference in 2012 and 2021; Graham & Dodd Scroll Award for article in the Financial Analysts Journal in 2002 and 2010.