Richard Marston – Portfolio Design. A Modern Approach to Asset Allocation

Description

Portfolio Design – selecting the correct mix of property applicable to a specific investor – is the important thing to profitable investing. It might help you accumulate wealth over time, whereas cushioning the blow of doable financial downturns. But so as to efficiently obtain this aim, you want to be accustomed to the entire main asset lessons that go into trendy portfolios and find out how a lot they add to portfolio diversification. Thoughtful asset allocation offers self-discipline to the funding course of and offers you the very best probability of constructing and safeguarding wealth. Wharton Professor Richard C. Marston, 2014 recipient of the Investment Management Consultants Association’s  prestigious Matthew R. McArthur Award, will information you thru the foremost selections that want to be made when designing a portfolio and can put you in the very best place to stability the risk-reward relationship that’s a part of this endeavor.

Portfolio Design is to be learn by funding advisors. The ebook is wealthy in details about particular person asset lessons, together with each conventional property like shares and bonds in addition to various property corresponding to hedge funds, personal fairness, actual property, and commodities. So it ought to attraction to all subtle advisors whether or not or not they’re attempting to qualify for one of many main funding designations. In truth, the ebook is designed to be learn by any advisor who’s as fascinated as Marston by the funding course of.

Table of Contents

Preface.

Acknowledgements.

About the Author.

About the Book.

Disclaimers.

CHAPTER 1 Asset Allocation.

CHAPTER 2 Long-Run Returns on Stocks and Bonds.

CHAPTER 3 Small-Cap Stocks.

CHAPTER 4 Value and Growth Investing.

CHAPTER 5 Foreign Stocks.

CHAPTER 6 Emerging Markets.

CHAPTER 7 Bonds.

CHAPTER 8 Strategic Asset Allocation.

CHAPTER 9 Hedge Funds.

CHAPTER 10 Venture Capital and Private Equity.

CHAPTER 11 Real Assets—Real Estate.

CHAPTER 12 Real Assets—Commodities.

CHAPTER 13 Asset Allocation with Alternative Investments.

CHAPTER 14 Investing and Spending by Foundations.

CHAPTER 15 Investing and Spending in Retirement.

CHAPTER 16 The Discipline of Asset Allocation—Rebalancing.

References.

Index.

Author Information

RICHARD C. MARSTON is presently James R.F. Guy Professor of Finance and Director, George Weiss Center for International Financial Research on the Wharton School, University of Pennsylvania. He was a recipient of the Rhodes Scholarship, Fulbright Fellowship, and the Sanwa Bank Prize in International Finance. He has been a analysis affiliate for the National Bureau of Economic Research since 1979, a visiting professor at London Business School, ESSEC in Paris, and the Sasin Institute at Chulalongkorn University in Bangkok, and Visiting Scholar on the Bank of Japan. Since 1999, he has been Academic Director of the Private Wealth Management Program at Wharton, a week-long program for ultra-high-net-worth buyers, and he’s a long-standing school member within the Certified Investment Management Analyst program at Wharton, having taught asset allocation to over 5000 monetary advisors.

Reviews

“Wharton professor Richard Marston has captivated investors and investment professionals for over thirty years, including the 600 ultra-high-net-worth investors who have completed Wharton’s five-day Private Wealth Management program. Never boring, and always practical, Dick Marston knows both institutional investors and individual investors well—their concerns and challenges. Portfolio Design will no doubt become a timeless reference for any serious investor.”
—Charlotte Beyer, founder and CEO, Institute for Private Investors

“Richard Marston’s tremendous insight into building well-diversified and successful investment portfolios has benefited a generation of financial advisors and individual and institutional investors. Marston offers a dynamic and cutting-edge understanding of the asset allocation process.”
—Phil C. Shaffer, CIMA, Managing Director, Graystone Consulting, Morgan Stanley Smith Barney

“After taking a bruising the past couple of years, many advisors who only learned the basics of asset allocation have too quickly dismissed the science of effective portfolio design. Many of these advisors have turned their back on the essential knowledge, tools, and skills for a new age of sophisticated investors. For more than twenty-three years, the best and brightest financial advisors in the world have learned asset allocation and portfolio design strategies from Dr. Marston on their path to become Certified Investment Management AnalystSM (CIMA®) practitioners, the premier credential for investment consultants. Advisors who are serious about serving their clients’ investment objectives will consume this book from cover to cover.”
—Sean R. Walters, CEO/Executive Director, Investment Management Consultants Association®, the credentialing physique for CIMA® certification

“Dick has done it again! He has synthesized a vast body of knowledge into an incisive foundational tome for financial advisers. He uses the prism of historical returns to make sense of recent downturns and dispels common myths in various asset classes. For financial advisers seeking a solid foundation on which to base their advice, Portfolio Design is a must-read.”