RT Journal Article SR Electronic T1 Practical Applications of Embedded Tax Liabilities and Portfolio Choice JF Practical Applications FD Institutional Investor Journals SP 1 OP 4 DO 10.3905/pa.2014.1.4.040 VO 1 IS 4 A1 Phillip A. Turvey A1 Anup K. Basu A1 Peter Verhoeven A1 Gauri Goyal YR 2014 UL https://pm-research.com/content/1/4/1.7.abstract AB 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 .