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This paper reviews our previous published work and stresses its relevance for practitioners. We argue that modelling investment choice via utility functions is a very useful exercise but the standard approach for doing this, namely mean variance analysis, has a number of weaknesses. We offer an alternative, the generalized logarithmic utility function advocated by Rubinstein. This specification is much better suited to wealth management and to retail investment and issues of complexity and computation can be easily resolved. We discuss applications that reveal better results than the standard approach. JEL Classification: G00, G10, G11.