Behavioral Investment Management: An Efficient Alternative to Modern Portfolio Theory (PROFESSIONAL FINANCE & INVESTM)
Language: English
Published by McGraw-Hill Education - Europe, United States, 2011
- Softcover
- Used
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"The main strengths of the book are how methodically the authors trace the history of efficient market pricingand then show how a more authentic view of markets can be used to one's advantage" Investment Europe, April 2012. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged.
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- Title
- Behavioral Investment Management: An Efficient Alternative to Modern Portfolio Theory (PROFESSIONAL FINANCE & INVESTM)
- Author
- Greg Davies
- Publisher
- McGraw-Hill Education - Europe, United States
- Publication year
- 2011
- Condition
- Very Good
- Binding
- Paperback
- Language
- English
- ISBN 10
- 0071746609
- ISBN 13
- 9780071746601
- Item weight
- 703 grams
- Dimensions
- 163.0 x 236.0
The End of Modern Portfolio Theory
Behavioral Investment Management proves what many have been thinking since the global economic downturn: Modern Portfolio Theory (MPT) is no longer a viable portfolio management strategy. Inherently flawed and based largely on ideology, MPT can not be relied upon in modern markets.
Behavioral Investment Management offers a new approach-one addresses certain realities that MPT ignores, including the fact that emotions play a major role in investing. The authors lay out new standards reflecting behavioral finance and dynamic asset allocation, then explain how to apply these standards to your current portfolio construction efforts. They explain how to move away from the idealized, black-and-white world of MPT and into the real world of investing--placing heavy emphasis on the importance of mastering emotions.
Behavioral Investment Management provides a portfolio-management standard for an investing world in disarray.
PART 1- The Current Paradigm: MPT (Modern Portfolio Theory); Chapter 1: Modern Portfolio Theory as it Stands; Chapter 2: Challenges to MPT: Theoretical-the assumptions are not thus; Chapter 3: Challenges to MPT: Empirical-the world is not thus; Chapter 4: Challenges to MPT: Behavioural-people are not thus; Chapter 5: Describing the Overall Framework: Investors and Investments; PART 2- Amending MPT: Getting to BMPT; Chapter 1:Investors-The Rational Investor; Chapter 2: Investments-Extracting Value from the long-term; Chapter 3: Investments-Extracting Value from the short-term; Chapter 4: bringing it together, the new BMPT paradigm; PART 3- Emotional Insurance: Sticking with the Journey; Chapter 1: Investors- the emotional investor; Chapter 2: Investments- Constraining the rational portfolio; PART 4- Practical Implications; Chapter 1: The BMPT and Wealth Management; Chapter 2: The BMPT and the Pension Industry; Chapter 3: The BMPT and Asset Managemen"Synopsis" may belong to another edition of this title.
About the Author
Greg B. Davies is Global Head of Behavioural and Quantitative Investment Philosophy at Barclays Wealth. His academic expertise bridges economics, philosophy, and psychology, and he has current academic affiliations with Oxford University and University College, London.
Arnaud de Servigny is the Global Head of Discretionary Portfolio Management and Investment Strategy at Deutsche Bank Private Wealth Management. Arnaud is also an Adjunct Professor of Finance at Imperial College Business School in London.
"About the title" may belong to another edition of this title.
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