| Titre : |
Behavioral investment management : an efficient alternative to modern portfolio theory |
| Type de document : |
Livre |
| Auteurs : |
Greg DAVIES, Auteur ; Arnaud de SERVIGNY, Auteur |
| Editeur : |
New York ; : MCGRAW-HILL |
| Année de publication : |
2012 |
| Importance : |
xv ; 367 p. |
| ISBN/ISSN/EAN : |
978-0-07-174660-1 |
| Prix : |
40 EUR |
| Note générale : |
Bibliogr. p.349-355. Index. |
| Langues : |
Anglais (eng) |
| Mots-clés : |
Management
GESTION DE PORTEFEUILLE ; FINANCEMENT
|
| Résumé : |
The past few years have been dreadful for investment management. The quantitative analytics that serve as the foundation of modern finance have proven to be incapable of providing value to investors. Modern Portfolio Theory now appears desperately old-fashioned and obsolete for one simple reason-it does not work.Picking up where traditional quant theory leaves off, Behavioral Investment Management offers a new approach to dynamic investing that addresses critical realities MPT ignores, including investors' emotional impact on investing. Written by leading money managers with expertise in both quantitative and behavioral finance, this cutting-edge guide shows institutional investment managers, retail investors, and investment advisors how to use the latest theories and techniques from the field of behavioral finance to construct better-performing portfolios. After systematically deconstructing MPT to illustrate why it does not work empirically, this one-of-a-kind book presents a reasonable framework for improving your ability to generate high-performing portfolios. The applicability and strategic consequences of this book's approach set a new standard for portfolio development that will put you far ahead of the industry curve.Complete with a new paradigm of best practices in dynamic portfolio construction that incorporates, and compensates for, the emotional reactions of investors, this hands-on book shows you how to: Move away from an idealized market view to a more authentic perspective Use the provided toolset and strategies to realize superior performance in real-world markets Seamlessly adapt the new approaches and techniques into your day-to-day operations This book helps you gain a distinct advantage by providing micro and macro implications of applying behavioral science to investing. In addition to helping you better understand the needs of the individual investor, it examines the wealth management and pension fund industries and explains how behavioral science can create opportunities in these two sectors. When making your next investment decision, let Behavioral Investment Management help you factor in the big. |
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