Managing Diversified Portfolios Book

Managing Diversified Portfolios

  • Author : Daniel O. Klier
  • Publisher : Springer Science & Business Media
  • Release Date : 2009-05-28
  • Genre: Business & Economics
  • Pages : 295
  • ISBN 10 : 379082173X

Managing Diversified Portfolios Excerpt :

There has been a long tradition of research on the relation between diversification and performance of public corporations in the strategy and finance fields. As for private equity portfolios, research on this matter is rather scarce. From a theoretical as well as from a practical perspective, however, it is interesting to know more about the relation between private equity portfolio diversification and performance, how private equity firms manage their portfolios, and what public companies can learn from private equity firms. These are the research questions which are addressed in Daniel Klier’s research. In order to answer these questions, the author uses a two-tier research design. As a first step, he compares the diversification-performance link of public corporations and private equity firms. With respect to the private equity sample and the ope- tionalization of the relevant variables, the study is highly innovative in terms of generating the PE sample from databases like Preqin and Dealogic, constructing a diversification measure from transaction data, and developing comparable perfo- ance measures for private equity firms as well as traditional multi-business firms. As the second step, which is exploratory in nature, the author explores m- agement models of PE firms. The sample of 20 US and Europe-based private equity firms is unique and of high quality, because the author succeeded in getting in-depth interviews with top decision makers of PE firms. The exploratory study extracts three clusters of management models that PE firms are using, and their relation to performance.

Asymmetric Dependence in Finance Book

Asymmetric Dependence in Finance

  • Author : Jamie Alcock
  • Publisher : John Wiley & Sons
  • Release Date : 2018-03-05
  • Genre: Business & Economics
  • Pages : 312
  • ISBN 10 : 9781119289012

Asymmetric Dependence in Finance Excerpt :

"Asymmetric Dependence (hereafter, AD) is usually thought of as a cross-sectional phenomenon. Andrew Patton describes AD as "stock returns appear to be more highly correlated during market downturns than during market upturns." (Patton, 2004) Thus at a point in time when the market return is increasing we might expect to find the correlation between any two stocks to be, on average, lower than the correlation between those same two stocks when the market return is negative. However the term can also have a time series interpretation. Thus it may be that the impact of the current US market on the future UK market may be quantitatively different from the impact of the current UK market on the future US market. This is also a notion of AD that occurs through time. Whilst most of this book addresses the former notion of AD, time-series AD is explored in Chapters Four and Seven"--

The Complete Guide to Portfolio Construction and Management Book

The Complete Guide to Portfolio Construction and Management

  • Author : Lukasz Snopek
  • Publisher : John Wiley & Sons
  • Release Date : 2012-01-12
  • Genre: Business & Economics
  • Pages : 288
  • ISBN 10 : 9781119953050

The Complete Guide to Portfolio Construction and Management Excerpt :

In the wake of the recent financial crisis, many will agree that it is time for a fresh approach to portfolio management. The Complete Guide to Portfolio Construction and Management provides practical investment advice for building a robust, diversified portfolio. Written by a high-profile investment adviser, this book reveals a practical portfolio management framework and new approach to portfolio construction based on four key market forces: macro, fundamental, technical, and behavioural. It is an insight that takes the focus off numbers, looking instead at the role of risk and behavior in finance. As we have seen with the recent finance meltdown, traditional portfolio management techniques are flawed. Investors need to understand those flaws and learn how to incorporate risk management and behavioral finance into their asset management strategies. With a foreword by industry leader Francois-Serge L'habitant, this is your one-stop guide, with new ways for you to manage, grow and preserve your investment portfolio, even in uncertain markets.

Undiversified Book


  • Author : Ellen Carr
  • Publisher : Columbia University Press
  • Release Date : 2021-08-03
  • Genre: Business & Economics
  • Pages : null
  • ISBN 10 : 9780231551533

Undiversified Excerpt :

Diversification is a core principle of investing. Yet money managers have not applied it to their own ranks. Only around 10 percent of portfolio managers—the people most directly responsible for investing your money—are female, and the numbers are even worse at the ownership level. What are the causes of this underrepresentation, and what are its consequences—including for firms’ and clients’ bottom lines? In Undiversified, experienced practitioners Ellen Carr and Katrina Dudley examine the lack of women in investment management and propose solutions to improve the imbalance. They explore the barriers that subtly but effectively discourage women from entering and staying in the industry at each point in the pipeline. At the entry level, the lack of visible role models discourages students from considering the field, and those who do embark on an investment management career face many obstacles to retention and promotion. Carr and Dudley highlight the importance of informal knowledge about how to navigate career tracks, without which women are left at a disadvantage in an industry that lionizes confidence. They showcase a diverse constellation of successful female portfolio managers to demystify the profession. Drawing on wide-ranging research, interviews with prospective, current, and former industry practitioners, and the authors’ own experiences, Undiversified makes a compelling case that increasing the number of women could help transform active investment management at a time when it is under threat from passive strategies and technological innovation.

Portfolio Theory and Management Book

Portfolio Theory and Management

  • Author : H. Kent Baker
  • Publisher : Oxford University Press
  • Release Date : 2013-03-07
  • Genre: Business & Economics
  • Pages : 767
  • ISBN 10 : 9780199829699

Portfolio Theory and Management Excerpt :

Portfolio Theory and Management examines the foundations of portfolio management with the contributions of financial pioneers up to the latest trends. The book discusses portfolio theory and management both before and after the 2007-2008 financial crisis. It takes a global focus by highlighting cross-country differences and practices.

Risk Based and Factor Investing Book

Risk Based and Factor Investing

  • Author : Emmanuel Jurczenko
  • Publisher : Elsevier
  • Release Date : 2015-11-24
  • Genre: Business & Economics
  • Pages : 486
  • ISBN 10 : 9780081008119

Risk Based and Factor Investing Excerpt :

This book is a compilation of recent articles written by leading academics and practitioners in the area of risk-based and factor investing (RBFI). The articles are intended to introduce readers to some of the latest, cutting edge research encountered by academics and professionals dealing with RBFI solutions. Together the authors detail both alternative non-return based portfolio construction techniques and investing style risk premia strategies. Each chapter deals with new methods of building strategic and tactical risk-based portfolios, constructing and combining systematic factor strategies and assessing the related rules-based investment performances. This book can assist portfolio managers, asset owners, consultants, academics and students who wish to further their understanding of the science and art of risk-based and factor investing. Contains up-to-date research from the areas of RBFI Features contributions from leading academics and practitioners in this field Features discussions of new methods of building strategic and tactical risk-based portfolios for practitioners, academics and students

Portfolio Management in Practice  Volume 1 Book

Portfolio Management in Practice Volume 1

  • Author : CFA Institute
  • Publisher : John Wiley & Sons
  • Release Date : 2020-11-11
  • Genre: Business & Economics
  • Pages : 1328
  • ISBN 10 : 9781119743729

Portfolio Management in Practice Volume 1 Excerpt :

Portfolio Management in Practice, Volume 1: Investment Management delivers a comprehensive overview of investment management for students and industry professionals. As the first volume in the CFA Institute’s new Portfolio Management in Practice series, Investment Management offers professionals looking to enhance their skillsets and students building foundational knowledge an essential understanding of key investment management concepts. Designed to be an accessible resource for a wide range of learners, this volume explores the full portfolio management process. Inside, readers will find detailed coverage of: Forming capital market expectations Principles of the asset allocation process Determining investment strategies within each asset class Integrating considerations specific to high net worth individuals or institutions into chosen strategies And more To apply the concepts outlined in the Investment Management volume, explore the accompanying Portfolio Management in Practice, Volume 1: Investment Management Workbook. The perfect companion resource, this workbook aligns chapter-by-chapter with Investment Management for easy referencing so readers can draw connections between theoretical content and challenging practice problems. Featuring contributions from the CFA Institute’s subject matter experts, Portfolio Management in Practice, Volume 1: Investment Management distills the knowledge forward-thinking professionals will need to succeed in today’s fast-paced financial world.

Adaptive Asset Allocation Book

Adaptive Asset Allocation

  • Author : Adam Butler
  • Publisher : John Wiley & Sons
  • Release Date : 2016-02-02
  • Genre: Business & Economics
  • Pages : 240
  • ISBN 10 : 9781119220374

Adaptive Asset Allocation Excerpt :

Build an agile, responsive portfolio with a new approach to global asset allocation Adaptive Asset Allocation is a no-nonsense how-to guide for dynamic portfolio management. Written by the team behind, this book walks you through a uniquely objective and unbiased investment philosophy and provides clear guidelines for execution. From foundational concepts and timing to forecasting and portfolio optimization, this book shares insightful perspective on portfolio adaptation that can improve any investment strategy. Accessible explanations of both classical and contemporary research support the methodologies presented, bolstered by the authors' own capstone case study showing the direct impact of this approach on the individual investor. Financial advisors are competing in an increasingly commoditized environment, with the added burden of two substantial bear markets in the last 15 years. This book presents a framework that addresses the major challenges both advisors and investors face, emphasizing the importance of an agile, globally-diversified portfolio. Drill down to the most important concepts in wealth management Optimize portfolio performance with careful timing of savings and withdrawals Forecast returns 80% more accurately than assuming long-term averages Adopt an investment framework for stability, growth, and maximum income An optimized portfolio must be structured in a way that allows quick response to changes in asset class risks and relationships, and the flexibility to continually adapt to market changes. To execute such an ambitious strategy, it is essential to have a strong grasp of foundational wealth management concepts, a reliable system of forecasting, and a clear understanding of the merits of individual investment methods. Adaptive Asset Allocation provides critical background information alongside a streamlined framework for improving portfolio performance.

Portfolio Theory and Management Book

Portfolio Theory and Management

  • Author : H. Kent Baker
  • Publisher : Oxford University Press
  • Release Date : 2013-01-07
  • Genre: Business & Economics
  • Pages : 816
  • ISBN 10 : 9780199311514

Portfolio Theory and Management Excerpt :

Portfolio management is an ongoing process of constructing portfolios that balances an investor's objectives with the portfolio manager's expectations about the future. This dynamic process provides the payoff for investors. Portfolio management evaluates individual assets or investments by their contribution to the risk and return of an investor's portfolio rather than in isolation. This is called the portfolio perspective. Thus, by constructing a diversified portfolio, a portfolio manager can reduce risk for a given level of expected return, compared to investing in an individual asset or security. According to modern portfolio theory (MPT), investors who do not follow a portfolio perspective bear risk that is not rewarded with greater expected return. Portfolio diversification works best when financial markets are operating normally compared to periods of market turmoil such as the 2007-2008 financial crisis. During periods of turmoil, correlations tend to increase thus reducing the benefits of diversification. Portfolio management today emerges as a dynamic process, which continues to evolve at a rapid pace. The purpose of Portfolio Theory and Management is to take readers from the foundations of portfolio management with the contributions of financial pioneers up to the latest trends emerging within the context of special topics. The book includes discussions of portfolio theory and management both before and after the 2007-2008 financial crisis. This volume provides a critical reflection of what worked and what did not work viewed from the perspective of the recent financial crisis. Further, the book is not restricted to the U.S. market but takes a more global focus by highlighting cross-country differences and practices. This 30-chapter book consists of seven sections. These chapters are: (1) portfolio theory and asset pricing, (2) the investment policy statement and fiduciary duties, (3) asset allocation and portfolio construction, (4) risk management, (V) p

Investment Management Book
Score: 4
From 1 Ratings

Investment Management

  • Publisher : PHI Learning Pvt. Ltd.
  • Release Date : 2008-11-03
  • Genre: Business & Economics
  • Pages : 332
  • ISBN 10 : 8120334264

Investment Management Excerpt :

This book, specifically designed for postgraduate students of manage-ment, finance and commerce for the course in Investment Management or Security Analysis and Portfolio Management, provides a thorough understanding of the concepts and methodologies of investment management. It begins with a sound theoretical introduction to the basic concepts of savings, investments, risk and return, portfolio and financial markets. The text then systematically explains the wide gamut of investment alternatives available to an investor and elucidates the investment markets and processes as prevalent in India. What distinguishes the text is that it emphasizes the practical aspects of the subject. In so doing, the book provides extensive coverage of the tools and techniques of technical analysis. Realizing the fact that investment is becoming more of a systematized and structured activity, the book presents a meticulous treatment of security analysis. This is closely followed by an exclusive chapter on portfolio management which encompasses all the aspects of the selection, maintenance, evaluation and revision of portfolios. The book concludes with an overview of the regulatory environment of investments. Key Features  Explains the concepts and processes in the Indian context, thus enabling the students to know the markets and investment procedures in India.  Focuses on the practical aspects to help students start investing even while they are doing the course.  Provides end-of-chapter questions to drill the students in self-study. Besides postgraduate students of management and commerce, senior undergraduate students of these courses as well as practising managers should find the book extremely useful.

Managing Your Investment Portfolio For Dummies   UK Book

Managing Your Investment Portfolio For Dummies UK

  • Author : David Stevenson
  • Publisher : John Wiley & Sons
  • Release Date : 2013-08-19
  • Genre: Business & Economics
  • Pages : 384
  • ISBN 10 : 9781118457092

Managing Your Investment Portfolio For Dummies UK Excerpt :

Achieve positive returns on your investments, in any market With Managing Your Investment Portfolio FD you can build and manage a portfolio of investments that’s flexible enough to provide positive returns, no matter what the market is doing. Inside you’ll find a wealth of strategies and techniques to help you take your investments to the next level. Lean to track and predict volatility; hedge your exposure by going long and short; use strategies like arbitrage, relative value and pairs trading; and dip into distressed assets, options, derivatives, spread betting and much more. Techniques and strategies covered include: Tracking and predicting volatility, and making short-term gains on very volatile markets Hedging exposure and going long and short Arbitrage (taking advantage of price differences between markets) Pairs trading Relative value strategies Distressed assets (things written off by the mainstream that may have long-term value) Earnings surprises (looking for companies delivering better earnings than predicted by analysts) Options and derivatives Macro trading (looking at key indicators for economic cycles)

Score: 5
From 1 Ratings


  • Author : S. KEVIN
  • Publisher : PHI Learning Pvt. Ltd.
  • Release Date : 2015-07-01
  • Genre: Business & Economics
  • Pages : 368
  • ISBN 10 : 9788120351301


The second edition of the book on Security Analysis and Portfolio Management covers all the areas relevant to the theme of investment in securities. It begins with an introduction to the investment process and the risk involved in it and then explains the different methods of security analysis such as Fundamental Analysis (including economy, industry and company analysis), Technical Analysis and Random Walk Theory (including Efficient Market Hypothesis). The valuation of securities such as shares and bonds is illustrated with examples. The securities market environment and the trading system in India are also discussed in sufficient detail. The different phases of Portfolio Management such as portfolio analysis, portfolio selection, portfolio revision and portfolio evaluation are explained in separate chapters. Pricing theories such as Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory (APT), and Option Pricing Theory are explained with suitable examples. The book also provides an introduction to Derivative Instruments in four chapters. Each chapter is supported with examples, review questions and practice exercises to facilitate learning of the concepts and theories. The book is intended to serve as a basic textbook for the students of finance, commerce, and management. It will be useful to the students pursuing professional courses such as chartered accountancy (CA), cost and management accountancy (CMA), and chartered financial analysis (CFA). The professionals in the field of investment will find this book of immense value in enhancing their knowledge. New to the SECOND Edition • Two new chapters on Arbitrage Pricing Theory (APT) and Option Pricing are introduced. • Two new sections on MCX-SX (the new stock exchange in India) and Value at Risk (VaR) Analysis are also added. • A Glossary of important terms has also been appended for the benefit of readers.

Active Alpha Book

Active Alpha

  • Author : Alan H. Dorsey
  • Publisher : John Wiley & Sons
  • Release Date : 2011-07-12
  • Genre: Business & Economics
  • Pages : 400
  • ISBN 10 : 9781118161142

Active Alpha Excerpt :

Praise for Active Alpha "Active alpha is the quest for every sophisticated investor. Thisbook covers all of the key alpha sources currently mined by activemanagers, reduces the complexity of the subject, and helps theinvestor get started in the right direction." -Mark Anson, Chief Executive Officer, Hermes Pensions ManagementLtd. "Long-held traditional methods for investing large portfolios aregiving way to new processes that are designed to improveproductivity and diversification. These changes find their locus inthe sometimes overly mysterious world of absolute returnstrategies. In this book, Alan Dorsey demystifies that new worldand provides a guiding pathway into the future of professionalportfolio management. This is an important read for any investorwho plans to succeed going forward." -Britt Harris, Chief Investment Officer, Teacher Retirement Systemof Texas "With great lucidity, Alan Dorsey's book, Active Alpha, fills animportant void by identifying the relevant institutional featuresof this complex subject and by providing a unifying analyticframework for understanding and constructing portfolios ofalternative assets. For anyone investing in the alternative class,from the new student to the experienced practitioner, Active Alphais a necessary read. I am recommending it to everyone I know withsuch an interest, and it is destined to become a much thumbedreference on my shelf." -Steve Ross, Franco Modigliani Professor of Financial Economics,Sloan School, MIT

Investment Management Law and Regulation Book

Investment Management Law and Regulation

  • Author : Harvey E. Bines
  • Publisher : Wolters Kluwer
  • Release Date : 2004-01-01
  • Genre: Law
  • Pages : 927
  • ISBN 10 : 9780735530485

Investment Management Law and Regulation Excerpt :

In its First Edition, this classic treatise called attention to the duty of reasonable care, the duty of loyalty and the public duty of fiduciaries to the marketplace. Grounded in the idea that prudent investing is to be defined by professional practices accepted as appropriate at the time of investment by the management, thereby permitting such practices to adapt to changing conditions and insights, the field of investment management law and regulation has at its center the goal of a common standard of care for investment.Now in its Second Edition, this definitive guide to investment management law and regulation helps you to profitably adapt to today's new and changing conditions and anticipate tomorrow's regulatory response.Here are just a few of the reasons why Investment Management Law and Regulation will be so valuable to you:Explains and analyzes all the ins and outs of the law, clarifies the complexities, answers your questions, points out pitfalls and helps you avoid themCovers the entire field in one volume, saves you valuable time and effort in finding information and searching through stacks of referencesEnsures compliance with all relevant regulations, makes sure nothing is overlooked, protects you against costly mistakesUpdates you on the latest important changes, tells you what is happening now and what is likely to happen in the future Investment Management Law and Regulation is the only up-to-date volume to offer a comprehensive examination of the field of investment management law, covering everything from financial theory and legal theory to the various aspects of hands-on fund management. It's the only resource of its kind that:Identifies and explains the financial theories that control the development of investment management law across management activitiesGives critical judicial, legislative, and regulatory history that makes recent law and regulation more comprehensibleCovers all areas of regulation governing the activities of investment mana