Equity Management: The Art and Science of Modern Quantitative Investing, Second Edition

The classic guide to quantitative investing―expanded and updated for today’s increasingly complex markets

From Bruce Jacobs and Ken Levy―two pioneers of quantitative equity management― the go-to guide to stock selection has been substantially updated to help you build portfolios in today’s transformed investing landscape.

A powerful combination of in-depth research and expert insights gained from decades of experience, Equity Management, Second Edition includes 24 new peer-reviewed articles that help leveraged long-short investors and leverage-averse investors navigate today’s complex and unpredictable markets.

Retaining all the content that made an instant classic of the first edition―including the authors’ innovative approach to disentangling the many factors that influence stock returns, unifying the investment process, and integrating long and short portfolio positions―this new edition addresses critical issues. Among them--

• What’s the best leverage level for long-short and leveraged long-only portfolios?
• Which behavioral characteristics explain the recent financial meltdown and previous crises?
• What is smart beta―and why should you think twice about using it? 
• How do option-pricing theory and arbitrage strategies lead to market instability?
• Why are factor-based strategies on the rise?

Equity Management provides the most comprehensive treatment of the subject to date. More than a mere compilation of articles, this collection provides a carefully structured view of modern quantitative investing. You’ll come away with levels of insight and understanding that will give you an edge in increasingly complex and unpredictable markets.

Well-established as two of today’s most innovative thinkers, Jacobs and Levy take you to the next level of investing. Read Equity Management and design the perfect portfolio for your investing goals. 

Bruce Jacobs holds a Ph.D. in finance from the Wharton School of the University of Pennsylvania. He is the author of Too Smart for Our Own Good: Ingenious Investment Strategies, Illusions of Safety, and Market Crashes, and Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes, and co-author, with Ken Levy, of Equity Management: Quantitative Analysis for Stock Selection, and co-editor, with Ken Levy, of Market Neutral Strategies. He and serves on the Journal of Portfolio Management Advisory Board and has served on the Financial Analysts Journal Advisory Council.

Ken Levy holds an M.B.A. and M.A. in business economics from the Wharton School of the University of Pennsylvania. He is co-author, with Bruce Jacobs, of Equity Management: Quantitative Analysis for Stock Selection, and co-editor, with Bruce Jacobs, of Market Neutral Strategies. A Chartered Financial Analyst, he has served as the CFA Institute's candidate curriculum committee.

Bruce I. Jacobs and Kenneth N. Levy are co-founders and co-chief investment officers of Jacobs Levy Equity Management, which is widely recognized as a leading provider of quantitative equity strategies for institutional clients. Our prestigious global roster of clients includes corporate pension plans,public retirement and sovereign wealth funds, Taft-Hartley plans, endowments/foundations, and sub-advised funds, including many of Pensions & Investments' "Top 200 Pension Funds/Sponsors."

For more information, please visit the authors' website at jlem.com/research#/nav/books.