This paper develops a portfolio model for performance measurement and selection of investment securities for which there is no public market: investments such as venture capital investments, private placements, or real estate partnerships. The paper can be used as the basis of research to measure the risk/retum properties of privately-held securities, and such research can be used to develop portfolio measurement tools for these securities.
Portfolio , Portfolio Management, Securities, Privately-Held, Investment Selection
"Portfolio Management for Privately-Held Securities: Investment Selection and Performance Measurement,"
Journal of Small Business Finance:
2, pp. 171-176.
Available at: http://digitalcommons.pepperdine.edu/jef/vol3/iss2/7