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Full Description
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.
Contents
CONTENTS
PREFACE: SPRING SEMESTER: ECON 245B
PART I: FROM HEURISTICS TO STATISTICS
CHAPTER 1: RISK, RETURN, EUREKA!
CHAPTER 2: WHAT IS A SECURITY WORTH?
CHAPTER 3: THE BIRTH OF MODERN PORTFOLIO THEORY
CHAPTER 4: INDEXES: TAKING THE MARKET'S MEASURE
PART II: FROM THEORY TO PRACTICE
CHAPTER 5: A DAGGER OF ARISTOTELIAN LOGIC
CHAPTER 6: ASSET ALLOCATION: THE GREAT DEBATE
CHAPTER 7: MARKOWITZ MEETS MAIN STREET
CHAPTER 8: HOW INDEXING CHANGED ACTIVE
CHAPTER 9: MANAGING MANAGERS IN MODERN PORTFOLIOS
PART III: FROM REVOLUTION TO COUNTER REVOLUTION
CHAPTER 10: THE RISE OF BEHAVIORAL FINANCE
CHAPTER 11: RISK-AWARE ACTIVE: THINKING IN BETS
PART IV: FROM PUBLIC TO PRIVATE
CHAPTER 12: ALTERNATIVES AND THE NORTHWEST FRONTIER
CHAPTER 13: REAL ESTATE: PROFITS IN PROPERTY
CHAPTER 14: INFRASTRUCTURE: TWO BUILDING BLOCKS
CHAPTER 15: HEDGE FUNDS: PLAYING BOTH SIDES
CHAPTER 16: PRIVATE EQUITY: KNOWN UNKNOWNS
CHAPTER 17: THE PORTFOLIO BLUEPRINT
ACKNOWLEDGMENTS
ABOUT THE AUTHORS
