Investors are trying to generate excess returns through active investment strategies. Since the
outbreak of the financial crisis investors face a situation where increased risks are
accompanied by falling key interest rates. An optimal portfolio in terms of risk and return
becomes a perpetual motion machine. Markus Vollmer answers the question how the seemingly
impossible could still be achieved by an empirical analysis of historical data of 1'800 stocks
listed at equity markets in 24 countries covering all 19 super sectors. The author offers valid
and reliable findings by using the previously mentioned data proxy. He reveals purposefully the
need for further research and simultaneously he derives specific and applicable guidelines for
the design of investment strategies which are extremely exciting for both the institutional
expert and the private investor.
