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OverviewPortfolio Theory and Management examines the foundations of portfolio management with the contributions of financial pioneers up to the latest trends.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. Full Product DetailsAuthor: H. Kent Baker (, Professor of Finance, American University) , Greg Filbeck (, Samuel P. Black III Professor of Insurance and Risk Management, Pennsylvania State University)Publisher: Oxford University Press Inc Imprint: Oxford University Press Inc Dimensions: Width: 23.40cm , Height: 4.90cm , Length: 15.60cm Weight: 0.001kg ISBN: 9780199829699ISBN 10: 0199829691 Pages: 816 Publication Date: 07 March 2013 Audience: College/higher education , Professional and scholarly , Tertiary & Higher Education , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of Contents1. Portfolio Theory and Management: An Overview (H. Kent Baker and Greg Filbeck)Section I. Portfolio Theory and Asset Pricing2. Modern Portfolio Theory (Eric Jacquier)3. Asset Pricing Theories, Models, and Tests (Nikolay Gospodinov and Cesare Robotti)4. Asset Pricing and Behavioral Finance (Hersh Shefrin)Section II. The Investment Policy Statement and Fiduciary Duties5. Assessing Risk Tolerance (Sherman D. Hanna, Michael A. Guillemette, and Michael S. Finke)6. Private Wealth Management (Dianna Preece)7. Institutional Wealth Management (Eric J. Robbins)8. Fiduciary Duties and Responsibilities of Portfolio Managers (Remus D. Valsan and Moin A. Yahya)Section III. Asset Allocation and Portfolio Constructiob9. The Role of Asset Allocation in the Investment Decision-Making Process (James L. Farrell, Jr.)10. Asset Allocation Models (J. Clay Singleton)11. Preference Models in Portfolio Construction and Evaluation (Massimo Guidolin)12. Portfolio Construction with Downside Risk (Harald Lohre, Thorsten Neumann, and Thomas Winterfeldt)13. Asset Allocation with Downside Risk Management (Joshua M. Davis and Sebastien Page)14. Alternative Investments (Lars Helge Hass, Denis Schweizer, Juliane Proelss)Section IV. Risk Management15. Measuring and Managing Market Risk (Christoph Kaserer)16. Measuring and Managing Credit and Other Risks (Gabriele Sabato)Section V. Portfolio Execution, Monitoring, and Rebalancing17. Trading Strategies, Portfolio Monitoring, and Rebalancing (Ricardo Cesari and Massimiliano Marzo)18. Effective Trade Execution (Ricardo Cesari, Massimiliano Marzo, and Paolo Zagalia)19. Market Timing Methods and Results (Panagiotis Schizas)Section VI. Evaluating and Reporting Portfolio Performance20. Evaluating Portfolio Performance: Reconciling Asset Selection and Market Timing (Arnaud Cavé, Georges Hübner, and Thomas Lejeune)21. Benchmarking (Abraham Lioui and Patrice Poncet)22. Attribution Analysis (Nanne Brunia and Auke Plantinga)23. Equity Investment Styles (Andrew Mason)24. Use of Derivatives (Matthieu Leblanc)25. Performance Presentation (Timothy P. Ryan)Section VII. Special Topics26. Exchange Traded Funds: The Success Story of the Last Two Decades (Gerasimos G. Rompotis)27. The Past, Present, and Future of Hedge Funds (Roland Füss and Sarah Müller)28. Portfolio and Risk Management for Private Equity Fund Investments (Niklas Wagner and Axel Buchner)29. Venture Capital (Paschal Gantenbein, Reto Forrer, and Nils Herold)30. Socially Responsible Investing (Hunter Holzhauer)ReviewsPortfolio Theory and Management is a comprehensive survey of modern financial theory and practice. It contains thirty articles organized into seven general areas, written by authorities in their respective fields. It would be an excellent 'Readings' book for a course on modern finance, and an equally excellent source-book for professional academics and practitioners in the field. --Harry Markowitz, Rady School of Management, University of California Baker and Filbeck's Portfolio Theory and Management is an invaluable resource for investors, advanced students and professional scholars looking to advance their insight and understanding of modern portfolio management. The book can be used in its entirety, or as a 'go-to' reference grouped into highly-focused, relevant chapters. I know my copy will remain readily accessible on my bookshelf for years to come! --Robert A. Weigand, PhD, Professor of Finance and Brenneman Professor of Business Strategy, Washburn University <br> Portfolio Theory and Management is a comprehensive survey of modern financial theory and practice. It contains thirty articles organized into seven general areas, written by authorities in their respective fields. It would be an excellent 'Readings' book for a course on modern finance, and an equally excellent source-book for professional academics and practitioners in the field. --Harry Markowitz, Rady School of Management, University of California<p><br> Baker and Filbeck's Portfolio Theory and Management is an invaluable resource for investors, advanced students and professional scholars looking to advance their insight and understanding of modern portfolio management. The book can be used in its entirety, or as a 'go-to' reference grouped into highly-focused, relevant chapters. I know my copy will remain readily accessible on my bookshelf for years to come! --Robert A. Weigand, PhD, Professor of Finance and Brenneman Professor of Business Strategy, Washburn University<p><br> Portfolio Theory and Management is a comprehensive survey of modern financial theory and practice. It contains thirty articles organized into seven general areas, written by authorities in their respective fields. It would be an excellent 'Readings' book for a course on modern finance, and an equally excellent source-book for professional academics and practitioners in the field. --Harry Markowitz, Rady School of Management, University of California Baker and Filbeck's Portfolio Theory and Management is an invaluable resource for investors, advanced students and professional scholars looking to advance their insight and understanding of modern portfolio management. The book can be used in its entirety, or as a 'go-to' reference grouped into highly-focused, relevant chapters. I know my copy will remain readily accessible on my bookshelf for years to come! --Robert A. Weigand, PhD, Professor of Finance and Brenneman Professor of Business Strategy, Washburn University Portfolio Theory and Management is a comprehensive survey of modern financial theory and practice. It contains thirty articles organized into seven general areas, written by authorities in their respective fields. It would be an excellent 'Readings' book for a course on modern finance, and an equally excellent source-book for professional academics and practitioners in the field. * Harry Markowitz, Rady School of Management, University of California * Author InformationH. Kent Baker is Professor of Finance and Kogod Research Professor, American University Greg Filbeck is Samuel P. Black III Professor of Insurance and Risk Management, Pennsylvania State University Tab Content 6Author Website:Countries AvailableAll regions |
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