How to Select
Investment Managers and Evaluate Performance
Anyone on an investment
committee who is new to institutional investing should read this book. It
describes more than manager selection, explaining the investing process—writing an investment policy,
holding investment committee meetings, conducting a manager search,
evaluating
performance, and more. A
lengthy chapter on alternative investments has a "bandwagon"
feel, but this is a minor criticism. On the specific topic of manager selection, Travers (2004) is more
in-depth ...
Global Perspectives on
Investment Management
Released to commemorate 50 years of the CFA Institute's
annual Financial Analysts Seminar, this is an edited collection of the
best presentations from recent seminars. In one volume, professionals
will find quality pieces on a host of important topics: emerging
international accounting standards, the mutual fund timing scandal,
proxy voting, the link between default and recovery rates, etc.
Most authors have names you will recognize—or should recognize. Get a
copy and read a chapter each night. It will be fun and informative
reading ...
Managing Investment
Portfolios
This edited collection is a handbok on investment
management. It is broader and less deep than Fabozzi and Markowitz (2002),
which focused primarily on portfolio optimization, equity investing and
fixed income investing. Maginn has less on those topics but offers
chapters on market forecasting, the different categories of
institutional investors, retail investors, market microstructure theory,
rebalancing, etc. Read both books. They are complements more than
competitors ...
The Handbook of Portfolio
Mathematics
Formulas for Optimal Allocation & Leverage
This book's marketing might
make you think it targets a professional audience. It does not. It is
for individual investors who actively trade stocks. It does touch on
topics a more professional book might address, such as Markowitz's
portfolio theory, but the discussions won't appeal to pros. The math is
watered down, and there are various minor errors ...
Investment Management and
Mismanagement
This short book surveys influential
papers in the literature on investment management. Topics include
efficient markets, anomalies, performance studies, expenses, suitability
and churning. The focus is on institutional portfolios, but retail equity portfolios are also discussed. The book
will appeal more to people new to the field than knowledgeable
practitioners or academics. Maybe read Bernstein's Capital Ideas first
...
The World of Risk Management
Gifford Fong (ed.)
2005
Don't be misled by
its unfortunate title. This book is not about the "World of Risk Management." It
is an edited collection of some of the best papers published in the Journal of Investment Management since its founding three years
ago ... Read more
Modern Investment Management
Bob Litterman et al
2003
Written by a team
of employees at Goldman Sachs Asset Management, this lengthy book explores a
variety of mostly theoretical topics related to investment management. Lead
author Litterman helped develop the Black-Litterman international CAPM model, so
that model plays a central role throughout much of the book ...
Read more
The Theory and
Practice of
Investment Management
Frank J. Fabozzi and Harry M. Markowitz (eds.)
The first thing you will notice is that Harry Markowitz has lent his name to
the project. That is a positive indication of things to come. Turning to the
table of contents, we find it is COMPREHENSIVE. In addition to a foreword by
Peter Bernstein, there are 30 chapters divided into six sections ...
Read more
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