Problem

Continuing the previous problem, determine the portfolio that minimizes the chance that...

Continuing the previous problem, determine the portfolio that minimizes the chance that you will lose money during any month, subject to a lower bound constraint on your expected monthly return. (The lower bound will depend on your data. It must not be above the largest average return of your stocks. For example, if you require the mean portfolio return to be greater than 1% and all stocks average less than 1%, the constraint can’t possibly be satisfied.)

(Reference Problem 13)

Visit http://biz.yahoo.com/r/. Under Research Tools, click on Historical Quotes, and then download the monthly returns on at least four stocks for the preceding 60 months. Use this data to determine the portfolio that maximizes the chance of beating the S&P 500 for these years. (Note that the ticker symbol for the S&P 500 is ^GSPC. Also, this Web site gives closing prices, which you will need to convert to returns.)

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