Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Controlling Risk 2nd Edition by Richard Grinold and Ronald Kahn offers investors a possibility to higher understand the stability between supervisor skill and portfolio risk. There’s a substantial expansion in each depth and breadth on the original. It clearly and concisely explains all points of the foundations and the newest pondering in lively portfolio management.
This text broke new ground when it first turned available to funding managers in 1994. By outlining an progressive course of to uncover uncooked signals of asset returns, develop them into refined forecasts, then use those forecasts to construct portfolios of remarkable return and minimal risk, i.e., portfolios that persistently beat the market, this hallmark book helped hundreds of investment managers.
Authors explain the right way to apply economics, econometrics, and operations analysis to solving sensible funding problems, and uncovering superior revenue opportunities. It outlines lively management framework that begins with a benchmark portfolio, then defines exceptional returns as they relate to that benchmark.
Past the excellent therapy of the energetic management process covered beforehand, book expands to cover asset allocation, lengthy/quick investing, information horizons, and different matters related today. It revisits various discussions from the primary edition, shedding new gentle on some of right now’s most urgent points, including risk, dispersion, market affect, and performance evaluation, whereas providing empirical evidence the place appropriate.
The result is an updated, complete set of strategic concepts and guidelines of thumb for guiding the method of-and growing the profits from-energetic investment management. This text provides excellent treatise on the methods and strategies of measuring efficiency and risk management that’s both rigorous and understandable.
Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Controlling Risk [Hardcover]
Richard Grinold and Ronald Kahn
McGraw-Hill; 2 edition (October 26, 1999)
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