Stories

Dan Ostrov (Mathematics and Computer Science), along with Sanjiv Das (Finance), Andy Radhakrishnan, and Deep Srivastav (both at Franklin Templeton Investments), had their paper "Dynamic Optimization for Multi-Goals Wealth Management" accepted by the Journal of Banking and Finance, a top tier finance journal.

The paper shows how investors with multiple competing financial goals over time can optimally decide which goals they should fulfill, partially fulfill, or forgo and, at the same time, how to optimally change their asset mix each year. These decisions incorporate the investor's wealth, timeline, and personal preferences among their goals, as well as the cost of each of the goals.