Strategic and Tactical Asset Allocation
An Integrated Approach
Authors: Lumholdt, Henrik
Free Preview- Provides a coherent framework for decision-makingCombines a strategic and tactical approach to asset allocationIntegrates real world experience with solid theoretical underpinningBased on up-to-date market experience complete with data and the most relevant recent academic contributions to the field
- Presents a four-phase framework for using tactical macro-drivers in asset allocation
Buy this book
- About this book
-
This book covers each step in the asset allocation process, addressing as many of the relevant questions as possible along the way. How can we formulate expectations about long-term returns? How relevant are valuations? What are the challenges to optimizing the portfolio? Can factor investing add value and, if so, how can it be implemented? Which are the key performance drivers for each asset class, and what determines how they are correlated? How can we apply insights about the business cycle to tactical asset allocation?
The book is aimed at finance professionals and others looking for a coherent framework for decision-making in asset allocation, both at the strategic and tactical level. It stresses analysis rather than pre-conceived ideas about investments, and it draws on both empirical research and practical experience to give the reader as strong a background as possible. - About the authors
-
Henrik Lumholdt is a seasoned finance professional with more than 30 years of capital markets experience. He is the founding partner of Inside Economics, a consultancy, which advises international investors and multinational corporations. Henrik was until recently the Chief Investment Strategist for Spain's largest asset management company, BBVA AM. Previous positions include Chief Economist for Bank of America, Spain, Head of Fixed Income Research at FG/Merrill Lynch, and Senior Economist at Nordea Bank. A member of the work group for international economics at Spain's think tank, El Real Instituto Elcano, he spends a considerable part of his professional time focused on international economies and markets. Henrik has been an adjunct professor of finance and economics at IE Business School since 2001 and has won numerous prizes for outstanding teaching
- Reviews
-
“This book provides a lucid description of asset allocation techniques and factor investing based on a broad range of academic research and practical experience.” (Lasse Heje Pedersen, Professor at Copenhagen Business School and New York University and Principal at AQR Capital Management)
“An excellent assessment of the latest thinking on asset allocation. It combines useful insights with hard evidence within an engaging story-telling style.” (Amin Rajan, CEO of CREATE-Research)“Henrik credibly represents an archetypical translator between the world of academia and practice. His numerous teaching awards count as reference. So does his latest book on asset allocation. Disruptive forces are challenging traditional concepts and beliefs in the asset management industry. Henrik undertakes a careful, caring and understandable reflection on which established best practices are still to be considered and which to be ignored. Overall, his book offers applicable orientation for asset allocation practitioners.” (Markus Schuller, Managing Partner, Panthera Solutions and Adjunct Professor, International University of Monaco)
“As the price of money starts going up, asset allocation decisions will be pivotal in determining who will be able to obtain positive real returns across asset classes. It is easy to make money when interest rates go down, not that easy when they go up. That is why this book is so critical precisely at these times.” (Ignacio de la Torre, Chief Economist, Arcanopartners and Academic Director, I.E. Business School)
- Table of contents (9 chapters)
-
-
Introduction to Asset Allocation
Pages 3-19
-
Performance Evaluation
Pages 21-46
-
Strategic Versus Tactical Asset Allocation
Pages 47-59
-
Long-Term Return Expectations
Pages 63-97
-
Optimizing the Strategic Asset Allocation
Pages 99-114
-
Table of contents (9 chapters)
Recommended for you
Bibliographic Information
- Bibliographic Information
-
- Book Title
- Strategic and Tactical Asset Allocation
- Book Subtitle
- An Integrated Approach
- Authors
-
- Henrik Lumholdt
- Copyright
- 2018
- Publisher
- Palgrave Macmillan
- Copyright Holder
- The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer International Publishing AG, part of Springer Nature
- eBook ISBN
- 978-3-319-89554-3
- DOI
- 10.1007/978-3-319-89554-3
- Hardcover ISBN
- 978-3-319-89553-6
- Softcover ISBN
- 978-3-030-07802-7
- Edition Number
- 1
- Number of Pages
- XX, 251
- Number of Illustrations
- 65 b/w illustrations
- Topics
