Asset Allocation and Portfolio Management Books |
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The Intelligent Asset Allocator
- How to Build Your Portfolio to Maximize Returns and Minimize Risk
by William Bernstein [see details | buy at Amazon.com] If you could only read one investment book in your life, this is the one it should be! We trade with discretionary funds but invest long-term by following the time-honored asset allocation methods described in this book. Perhaps the most important lesson that would have saved many when the 1990s bubble burst is how historically, by allocating only 20 percent to bonds instead of stocks, risk is substantially reduced with only a modest reduction in expected returns. |
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Strategic Asset Allocation
by John Y. Campbell, Luis M. Viceira [see details | buy at Amazon.com] Oxford University Press |
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Capital Account
- A Money Manager's Reports on a Turbulent Decade
by Edward Chancellor, Marathon Asset Management [see details | buy at Amazon.com] Collection of commentaries covering the excesses of the late 1990s. |
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The Art of Asset Allocation
- Asset Allocation Principles and Investment Strategies for any Market
by David M. Darst [see details | buy at Amazon.com] McGraw-Hill |
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Modern Portfolio Theory and Investment Analysis
by Edwin J. Elton, Martin J. Gruber, Stephen J. Brown and William N. Goetzmann [see details | buy at Amazon.com] |
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Getting Started in Asset Allocation
by Eric Gelb and William Bresnan [see details | buy at Amazon.com] |
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Asset Allocation
- Balancing Financial Risk
by Roger Gibson [see details | buy at Amazon.com] |
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Active Portfolio Management
- A Quantitative Approach for Producing Superior Returns...
by Richard C. Grinold, Ronald N. Kahn [see details | buy at Amazon.com] McGraw-Hill ...and Selecting Superior Returns and Controlling Risk |
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Equity Management
- Quantitative Analysis for Stock Selection
by Bruce Jacobs and Kenneth Levy [see details | buy at Amazon.com] |
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Modern Investment Management
- An Equilibrium Approach
by Bob Litterman [see details | buy at Amazon.com] Wiley |
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A Random Walk Down Wall Street
by Burton Malkiel [see details | buy at Amazon.com] |
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Mean-Variance Analysis in Portfolio Choice and Capital Markets
by Harry M. Markowitz, G. Peter Todd, William F. Sharpe [see details | buy at Amazon.com] Wiley |
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Efficient Asset Management
- A Practical Guide to Stock Portfolio Optimization and Asset Allocation
by Richard O. Michaud [see details | buy at Amazon.com] Oxford University Press |
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The Complete Guide to Managing a Portfolio of Mutual Funds (IAFP)
by Ron Rutherford [see details | buy at Amazon.com] |
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The Brainwashing of the American Investor
- The Book That Wall Street Does Not Want You to Read
by Steven R. Selengut [see details | buy at Amazon.com] |
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Valuing Wall Street
- Protecting Wealth in Turbulent Markets
by Andrew Smithers and Stephen Wright [see details | buy at Amazon.com] "Most books about the stock market tell you how to make money. This one ... will show you how to avoid losing it," begins this smart, blunt, cautionary tale based on Nobel laureate James Tobin's 1969 "q ratio," which posits, among other things, that no matter how bullish a market gets, it's bound to snap back into place at some point--and those who don't brace for the reversal will feel its sting. The authors, one a prominent asset-allocation adviser and the other a former head of macroeconomic forecasting for the Bank of England, warn that it's only a matter of time before the overexuberant market of the early 21st-century topples like its counterparts in 1929 and 1968. Here they set out to show why and how this will happen--as well as to tell stockholders what they should and should not do if they want to emerge intact. After making a cogent new argument in defense of the still-controversial q ratio, the authors show how it plays into principles of stock-market risk and return, how it has determined the value of Wall Street in the past and will continue to do so, and how to apply it as a practical investing tool. They do a neat job of parsing the good and bad news about stocks as a sound investment for the future, and of what to do and not do with one's money come the inevitable bear market. From there, they get down to the nitty-gritty of valuing the stock market, providing four key tests for any indicator of value and explaining how to fold in such factors as the dividend yield, the price-earnings ratio, the adjusted price-earnings multiple, yield ratios, and yield differences. They wrap up with a look at what they call "the q debate" among both economists and stockbrokers, and finally, they apply the q ratio specifically to the U.S. economy, rebuking Alan Greenspan's Federal Reserve for its role in what they see as the coming U.S. bubble burst. With its plain English, helpful illustrated charts, vivid examples from history, and even the occasional employment of the likes of Alice in Wonderland to prove its points, Valuing Wall Street should be accessible to those with a working understanding of the market and economic principles. All told, this book is not so much a how-to as it is a theoretical forecast whose tidings investors might want heed as we near what Smithers and Wright warn are rough years ahead. --Timothy Murphy (Amazon.com) |
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Pioneering Portfolio Management
- An Unconventional Approach to Institutional Investment
by David F. Swensen [see details | buy at Amazon.com] |