Professional Portfolio Management.
| Author/creator | Stewart, Scott Dudley, 1958- |
| Other author | Piros, Christopher Dixon. |
| Other author | Heisler, Jeffrey, 1959- |
| Format | Electronic |
| Publication Info | Newark : John Wiley & Sons, Incorporated, 2019. |
| Description | 1 online resource (722 pages) |
| Supplemental Content | ProQuest Ebook Central |
| Contents | Cover; Title Page; Copyright; Contents; About the Authors; Acknowledgments; Preface; Chapter 1 Introduction; 1.1 Introduction to the Investment Industry; 1.2 What is a Portfolio Manager?; 1.3 What Investment Problems Do Portfolio Managers Seek to Solve?; Asset Allocation and Asset Class Portfolio Responsibilities; Representative Investment Problems; 1.4 Spectrum of Portfolio Managers; 1.5 Layout of This Book; Problems; Endnotes; Chapter 2 Client Objectives for Diversified Portfolios; 2.1 Introduction; 2.2 Definitions of Risk |
| Contents | 2.3 The Portfolio Management Process and the Investment Policy Statement the Investment Policy Statement; 2.4 Institutional Investors; Foundations and Endowments; Pension Plans; Defined Benefit Plans; Defined Contribution Plans; 2.5 Individual Investors; Understanding the Client: Situational Profiling; The Individual's IPS: Objectives and Constraints; Trends in the Wealth Management Business; 2.6 Asset Class Portfolios; Summary; Investment Case; Problems; JAKE Investment Management, LLC: Investment and Spending Policy Review; Endnotes; Chapter 3 Asset Allocation: The Mean -- Variance Framework |
| Contents | 3.1 Introduction: Motivation of the Mean-Variance Approach to Asset Allocation types of Asset Allocation; Asset Classes; The Mean-Variance Framework; 3.2 Theory: Outline of the Mean-Variance Frameworks; Utility Theory; Return Behavior; Return Variance; Portfolio Return and Variance; Objective Function; Constraints; Investment Horizon; 3.3 Practice: Solution of Stylized Problems Using the Mean-Variance Framework; The Efficient Frontier; The Optimal Portfolio; Investment Horizons; The Shortfall Constraint; Asset-Liability Management; Practice Summary; Summary; Problems |
| Contents | Appendix 1: Returns, Compounding, and Sample Statistics. Returns; B. Continuous Compounding; C. Sample Statistics; D. Application in Excel-Sample Statistics and Excel Formulas; Appendix 2: Optimization; Constraints; Solution; Quadratic Programming; Appendix 3: Notation; Investment; Statistical; Endnotes; Chapter 4 Asset Allocation Inputs; 4.1 Sensitivity of the Mean-Variance Model to Inputs; 4.2 Constant Investment Opportunities; Using Sample Moments; James-Stein Estimation; Linking Returns to the Economy; Implied Views; Cross Sectional Risk Models; Combining Estimates: Mixed Estimation |
| Contents | 4.3 Time Varying Investment Opportunities summary; Problems; Appendix: Mixed Estimation with Multiple Assets; Endnotes; Chapter 5 Advanced Topics in Asset Allocation; 5.1 Introduction; 5.2 Horizon Effects in the M V Framework; Horizon Dependent Risk Aversion; Horizon Dependent Risk and Return; 5.3 Dynamic Programming; The General Framework; Mean-Variance with Recursive Shortfall Constraints; The Impact of Mean Reversion; Some Intuition about Changing Investment Opportunities; Portfolio Choice with Mean Reversion; 5.4 Simulation |
| General note | The Impact of Required Expenditures and Alternative Probability Distributions |
| Source of description | Print version record. |
| Issued in other form | Print version: Stewart, Scott. Professional Portfolio Management. Newark : John Wiley & Sons, Incorporated, ©2019 9781119397410 |
| Genre/form | Electronic books. |
| ISBN | 9781119397441 |
| ISBN | 1119397448 |
| ISBN | 9781119397434 (electronic bk.) |
| ISBN | 111939743X (electronic bk.) |
Availability
| Library | Location | Call Number | Status | Item Actions |
|---|---|---|---|---|
| Electronic Resources | Access Content Online | ✔ Available |