TY - JOUR T1 - Practical Applications of Embedded Tax Liabilities and Portfolio Choice JF - Practical Applications SP - 1 LP - 4 DO - 10.3905/pa.2014.1.4.040 VL - 1 IS - 4 AU - Phillip A. Turvey AU - Anup K. Basu AU - Peter Verhoeven A2 - Goyal, Gauri Y1 - 2014/04/30 UR - https://pm-research.com/content/1/4/1.7.abstract N2 - Embedded Tax Liabilities and Portfolio Choice Phillip A. Turvey Anup K. Basu Peter Verhoeven Investors should hold equities within their taxable accounts, rather than in their retirement accounts, according to the results of this empirical study of the risk-adjusted return of stocks and bonds in taxable, tax-deferred and Roth accounts.The results contradict the traditional view that retirement accounts can take more equity risk due to their longer time horizon, and co-author Phillip Turvey tells us why.Read this Practical Applications report for Turvey’s detailed description of his research findings in Embedded Tax Liabilities and Portfolio Choice , which appeared in the Spring 2013 issue of The Journal of Portfolio Management .Turvey and his co-authors, Anup Basu and Peter Verhoeven , are researchers at Queensland University of Technology . ER -