TAILIEUCHUNG - UNITED STATES SECURITIES AND EXCHANGE COMMISSION - PZENA INVESTMENT MANAGEMENT, INC.

The model presented is also related to the literature in limited risk sharing and participation constraints (Kehoe and Levine (1993), Kocherlakota (1996) and Zhang (1997)). More recently, Alvarez and Jermann (2000, 2001) showed that these participation constraints can be modelled as endogenous portfolio constraints, which they denote solvency constraints. Besides extending this strand of the literature for the case of heterogeneous beliefs, I solve this problem in continuous time for the rst time, thus generalizing it to the case of in nite possible Moreover, I show that the problem can be solved using the stopping time approach, which is intuitive in that it shows that the allocation. | UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON . 20549 FORM 10-K Annual report pursuant to Section 13 or 15 d of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31 2010 or Transition report pursuant to Section 13 or 15 d of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-33761 PZENA INVESTMENT MANAGEMENT INC. Exact Name of Registrant as Specified in its Charter Delaware 20-8999751 State or Other Jurisdiction of . Employer Incorporation or Organization Identification No. 120 West 45th Street New York New York 10036 Address of Principal Executive Offices Registrant s telephone number including area code 212 355-1600 Securities registered pursuant to Section 12 b of the Act Title of Each Class Name of Each Exchange on Which Registered Class A Common Stock par value .01 per share New York Stock Exchange Securities registered pursuant to Section 12 g of the Act None Indicate by check mark if the registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes No 13 Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 d of the Act. Yes No 13 Indicate by check mark whether the registrant 1 has filed all reports required to be filed by Section 13 or 15 d of the Securities Exchange Act of 1934 during the preceding 12 months or for such shorter period that the registrant was required to file such reports and 2 has been subject to such filing requirements for the past 90 days. Yes 13 No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site if any every Interactive Date File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months or for such shorter period that the registrant was required to submit and post such files . Yes No Indicate by check mark if disclosure of delinquent filers pursuant to

• Đầu tư Chứng khoán
• Timeshares & REITS
• Hotel Exchanges
• Cognitive Remediation Therapy
• Metacognitive Dysfunction
• Directions in Research
• Response Selection