Practitioner's Guide to Asset Allocation (e-bok)
Fler böcker inom
Format
E-bok
Filformat
EPUB med Adobe-kryptering
Om Adobe-kryptering
Nedladdning
Kan laddas ned under 24 månader, dock max 3 gånger.
Språk
Engelska
Antal sidor
256
Utgivningsdatum
2017-05-02
Förlag
Wiley
ISBN
9781119402459
Practitioner's Guide to Asset Allocation (e-bok)

Practitioner's Guide to Asset Allocation (e-bok)

E-bok (EPUB - DRM), Engelska, 2017-05-02
379
Laddas ned direkt
Läs i vår app för iPhone, iPad och Android
Finns även som
Visa alla 1 format & utgåvor
Since the formalization of asset allocation in 1952 with the publication of Portfolio Selection by Harry Markowitz, there have been great strides made to enhance the application of this groundbreaking theory. However, progress has been uneven. It has been punctuated with instances of misleading research, which has contributed to the stubborn persistence of certain fallacies about asset allocation. A Practitioner's Guide to Asset Allocation fills a void in the literature by offering a hands-on resource that describes the many important innovations that address key challenges to asset allocation and dispels common fallacies about asset allocation. The authors cover the fundamentals of asset allocation, including a discussion of the attributes that qualify a group of securities as an asset class and a detailed description of the conventional application of mean-variance analysis to asset allocation.. The authors review a number of common fallacies about asset allocation and dispel these misconceptions with logic or hard evidence. The fallacies debunked include such notions as: asset allocation determines more than 90% of investment performance; time diversifies risk; optimization is hypersensitive to estimation error; factors provide greater diversification than assets and are more effective at reducing noise; and that equally weighted portfolios perform more reliably out of sample than optimized portfolios. A Practitioner's Guide to Asset Allocation also explores the innovations that address key challenges to asset allocation and presents an alternative optimization procedure to address the idea that some investors have complex preferences and returns may not be elliptically distributed. Among the challenges highlighted, the authors explain how to overcome inefficiencies that result from constraints by expanding the optimization objective function to incorporate absolute and relative goals simultaneously. The text also explores the challenge of currency risk, describes how to use shadow assets and liabilities to unify liquidity with expected return and risk, and shows how to evaluate alternative asset mixes by assessing exposure to loss throughout the investment horizon based on regime-dependent risk. This practical text contains an illustrative example of asset allocation which is used to demonstrate the impact of the innovations described throughout the book. In addition, the book includes supplemental material that summarizes the key takeaways and includes information on relevant statistical and theoretical concepts, as well as a comprehensive glossary of terms.
Visa hela texten

Kundrecensioner

Har du läst boken? Sätt ditt betyg »

Bloggat om Practitioner's Guide to Asset Allocation