Asset Allocation (inbunden)
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Format
Inbunden (Hardback)
Språk
Engelska
Antal sidor
368
Utgivningsdatum
2021-09-16
Upplaga
2nd Edition
Förlag
John Wiley & Sons Inc
Medarbetare
Markowitz, Harry M. (foreword)
Dimensioner
230 x 158 x 24 mm
Vikt
722 g
Antal komponenter
1
ISBN
9781119817710

Asset Allocation

From Theory to Practice and Beyond

av William Kinlaw, Mark P Kritzman, David Turkington
Inbunden,  Engelska, 2021-09-16
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Discover a masterful exploration of the fallacies and challenges of asset allocation In Asset Allocation: From Theory to Practice and Beyondthe newly and substantially revised Second Edition of A Practitioners Guide to Asset Allocationaccomplished finance professionals William Kinlaw, Mark P. Kritzman, and David Turkington deliver a robust and insightful exploration of the core tenets of asset allocation. Drawing on their experience working with hundreds of the worlds largest and most sophisticated investors, the authors review foundational concepts, debunk fallacies, and address cutting-edge themes like factor investing and scenario analysis. The new edition also includes references to related topics at the end of each chapter and a summary of key takeaways to help readers rapidly locate material of interest. The book also incorporates discussions of: The characteristics that define an asset class, including stability, investability, and similarity The fundamentals of asset allocation, including definitions of expected return, portfolio risk, and diversification Advanced topics like factor investing, asymmetric diversification, fat tails, long-term investing, and enhanced scenario analysis as well as tools to address challenges such as liquidity, rebalancing, constraints, and within-horizon risk. Perfect for client-facing practitioners as well as scholars who seek to understand practical techniques, Asset Allocation: From Theory to Practice and Beyond is a must-read resource from an author team of distinguished finance experts and a forward by Nobel prize winner Harry Markowitz.
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Övrig information

WILLIAM KINLAW, CFA, is a Senior Managing Director and Global Head of State Street's academic affiliate, State Street Associates, a unique partnership that bridges the worlds of financial theory and practice. MARK KRITZMAN, CFA, is a Founding Partner and Chief Executive Officer of Windham Capital Management, LLC and the Chairman of Windhams investment committee. He is responsible for managing research activities and investment advisory services. He is also a Founding Partner of State Street Associates and teaches a graduate course at the Massachusetts Institute of Technology. DAVID TURKINGTON, CFA, is a Senior Managing Director and Head of Portfolio and Risk Research at State Street Associates.

Innehållsförteckning

Foreword to the First Edition Preface Key Takeaways Chapter 1: What is an asset class Chapter 2: Fundamentals of asset allocation Chapter 3: The importance of asset allocation Chapter 4: Time diversification Chapter 5: Divergence Chapter 6: Correlation asymmetry Chapter 7: Error maximization Chapter 8: Factors Chapter 9: 1/N Chapter 10: Policy portfolios Chapter 11: The private equity leverage myth Chapter 12: Necessary conditions for mean-variance analysis Chapter 13: Forecasting Chapter 14: The stock-bond correlation Chapter 15: Constraints Chapter 16: Asset allocation versus factor investing Chapter 17: Illiquidity Chapter 18: Currency risk Chapter 19: Estimation error Chapter 20: Leverage versus concentration Chapter 21: Rebalancing Chapter 22: Regime shifts Chapter 23: Scenario analysis Chapter 24: Stress testing Chapter 25: Statistical and theoretical concepts Glossary Index

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