Strategic and Tactical Asset Allocation

Beschreibung

This book covers each step in the asset allocation process, addressing as many of the relevant questions as possible along the way. How can we formulate expectations about long-term returns? How relevant are valuations? What are the challenges to optimizing the portfolio? Can factor investing add value and, if so, how can it be implemented? Which are the key performance drivers for each asset class, and what determines how they are correlated? How can we apply insights about the business cycle to tactical asset allocation? 
The book is aimed at finance professionals and others looking for a coherent framework for decision-making in asset allocation, both at the strategic and tactical level. It stresses analysis rather than pre-conceived ideas about investments, and it draws on both empirical research and practical experience to give the reader as strong a background as possible.

This book covers each step in the asset allocation process, addressing as many of the relevant questions as possible along the way. How can we formulate expectations about long-term returns? How relevant are valuations? What are the challenges to optimizing the portfolio? Can factor investing add value and, if so, how can it be implemented? Which are the key performance drivers for each asset class, and what determines how they are correlated? How can we apply insights about the business cycle to tactical asset allocation? 
The book is aimed at finance professionals and others looking for a coherent framework for decision-making in asset allocation, both at the strategic and tactical level. It stresses analysis rather than pre-conceived ideas about investments, and it draws on both empirical research and practical experience to give the reader as strong a background as possible.

Provides a coherent framework for decision-making Combines a strategic and tactical approach to asset allocation Integrates real world experience with solid theoretical underpinning Based on up-to-date market experience complete with data and the most relevant recent academic contributions to the field Presents a four-phase framework for using tactical macro-drivers in asset allocation

Autor*in

Henrik Lumholdt

Themen in »Strategic and Tactical Asset Allocation«

Investment management Performance evaluation Asset class valuation Asset class correlations Investment portfolio performance Active investment management Passive investment management investments and securities household finance

Stimmen zu »Strategic and Tactical Asset Allocation«

“This book provides a lucid description of asset allocation techniques and factor investing based on a broad range of academic research and practical experience.” (Lasse Heje Pedersen, Professor at Copenhagen Business School and New York University and Principal at AQR Capital Management) “An excellent assessment of the latest thinking on asset allocation.  It combines useful insights with hard evidence within an engaging story-telling style.” (Amin Rajan, CEO of CREATE-Research) “Henrik credibly represents an archetypical translator between the world of academia and practice. His numerous teaching awards count as reference. So does his latest book on asset allocation. Disruptive forces are challenging traditional concepts and beliefs in the asset management industry. Henrik undertakes a careful, caring and understandable reflection on which established best practices are still to be considered and which to be ignored. Overall,his book offers applicable orientation for asset allocation practitioners.” (Markus Schuller, Managing Partner, Panthera Solutions and Adjunct Professor, International University of Monaco)  “As the price of money starts going up, asset allocation decisions will be pivotal in determining who will be able to obtain positive real returns across asset classes.  It is easy to make money when interest rates go down, not that easy when they go up.  That is why this book is so critical precisely at these times.” (Ignacio de la Torre, Chief Economist, Arcanopartners and Academic Director, I.E. Business School)
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