PublicationDoes Relaxing the Long-Only Constraint Increase Downside Risk?DoesRelaxingtheLong-OnlyConstraintIncreaseDownsideRisk?By Peter Xu — Mar 27, 200715 mins readShareMailLinkedInTwitterCopy URLShareExamines the impact of short sales on a portfolio's downside risk. Finds that the impact on the skewness of a portfolio's alpha distribution is limited. Read MoreBy Peter XuCo-Head of Quantitative Equity, QMA