||46 of 49 people found the following review helpful.| Just very good|By Rats|This book sums up recent research on the "strategic" (as opposed to "tactical", see eg Wai Lee's recent good book) asset allocation decisions - those of people wanting to design a portfolio for the very long term. I am a practitioner, but this is not a practicioners' book on many counts: some of the formalism is hard (eg chap 5 on continuous-time||`In Strategic Asset Allocation John Campbell and Luis Viceira go beyond the usual capital-markets research monographs that survey a broad swath of asset pricing and investment theory. Instead, they dig deeply and insightfully into how an individual investor w
Academic finance has had a remarkable impact on many financial services. Yet long-term investors have received curiously little guidance from academic financial economists.
Mean-variance analysis, developed almost fifty years ago, has provided a basic paradigm for portfolio choice. This approach usefully emphasizes the ability of diversification to reduce risk, but it ignores several critically important factors. Most notably, the analysis is static; it assum...
[PDF.cd45] Strategic Asset Allocation: Portfolio Choice for Long-Term Investors (Clarendon Lectures in Economics) Rating: 4.76 (616 Votes)
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You can specify the type of files you want, for your device.Strategic Asset Allocation: Portfolio Choice for Long-Term Investors (Clarendon Lectures in Economics) | John Y. Campbell, Luis M. Viceira.Not only was the story interesting, engaging and relatable, it also teaches lessons.
