An accessible guide to the development of modern investment and portfolio theory and how you can use it to create an effective investment portfolio
The Architecture of Wealth: The Art and Science of Portfolio Construction, by experienced investment researchers Andrew Clarke and Nelson Wicas with portfolio manager Ganesh Suntharam, is an in-depth strategy guide for building a portfolio using techniques that reliably result in superior returns.
In the book, the authors outline the theory underlying modern portfolio construction, from the development of modern portfolio theory in the 1950s and 1960s to recent developments in behavioral economics. They also discuss the trial-and-error and compromise necessary to translate theory into real-world investing decision. Finally, the authors explain the advanced methodological and analytical techniques that they’ve used for over three decades to identify promising investing opportunities.
- An expert discussion of the last 75 years of investment management theory
- Explorations of risk models, optimization, and trading skill in the real world
- Step-by-step guides to constructing a modern investment portfolio
Perfect for undergraduate students in advanced economics and investment management courses, The Architecture of Wealth is also a must-read for MBA students, professionals pursuing a Certified Financial Analyst designation, and anyone else with an interest in portfolio theory and how it can be effectively applied to the contemporary markets.
ANDREW S. CLARKE, CFA, is an investment researcher and writer. He has worked at Morningstar and Vanguard, where he served as an assistant to Vanguard founder and indexing pioneer John C. Bogle. He worked with Mr. Bogle on his bestselling Common Sense on Mutual Funds. He has published research in The Journal of Index Investing and is the author of Wealth of Experience.
NELSON W. WICAS, PHD, has over 30 years of experience in quantitative equity strategies, including 16 years at The Vanguard Group and 12 years at Redpoint Investment Management. He earned his PhD in economics at the University of Pennsylvania and has been a visiting professor of economics at Haverford College.
GANESH A. SUNTHARAM, CFA, is the lead portfolio manager for global equity strategies at Aware Super, a retirement fund in Australia with over 1 million members. With more than 25 years of investment experience, he has served as the Chief Investment Officer of Redpoint Investment Management, as a hedge fund manager at Perpetual Limited and as a risk consultant at Barra. He has been the president of the Sydney CFA Society.
