Practical analysis for investment professionals

Book Reviews


Book Review: High Yield Debt

High Yield Debt succeeds as a concise and thorough primer on the speculative-grade debt market, including not only high-yield bonds but also leveraged loans and other related asset types. The author, who manages a credit hedge fund, presents sound conclusions on such controversial topics as the impact of exchange-traded funds on market volatility. The book is an invaluable resource for its target market of institutional decision makers.

Book Review: Household Finance

Household finance was once the investment and planning wallflower, but this is no longer the case. Stacked vertically, these three tomes, numbering about 1,000 pages each, could well serve as a footstool. And just as a footstool provides access to something otherwise out of reach, this extensive collection affords readers access to a rich chronology of developments in this field hitherto dispersed in academic journals.

Book Review: How to Make Money with Global Macro

Global macro is as much an exercise in navigating the political economy as it is an alternative investment strategy. Practitioners must recognize its limitations and remember that change is the one constant.

Top Five Articles from June: Blockchain, Shiller vs. Siegel, and Shooting Par

Larry Cao, CFA, discusses Campbell R. Harvey's definition of blockchain; Lauren Foster describes the continuing debate between Robert J. Shiller and Jeremy Siegel; Dougal Williams, CFA, suggests investors focus on shooting par in the investment market; Martin Fridson, CFA, reviews The End of Accounting and the Path Forward for Investors and Managers; and Mimmi Kheddache Jendeby provides some investing lessons from Epictetus, in the top Enterprising Investor posts from June.

Book Review: Your Complete Guide to Factor-Based Investing

Your Complete Guide to Factor-Based Investing is invaluable to practitioners who wish to design optimal portfolios. The authors define basic terms and discuss practical issues of implementation.

Book Review: Concentrated Investing

Sharing insights from top value investors, the authors discuss the strategies that make concentrated value investing profitable while revealing how to reduce and manage risk over time.

Book Review: Efficiently Inefficient

The author provides a thorough guide to the key trading strategies used by hedge funds and offers an overview of active management. He also explains such diverse approaches as quantitative, macro, dedicated short bias, and many more.

Book Review: The End of Accounting and the Path Forward for Investors and Managers

Drawing from a comprehensive empirical analysis, the authors demonstrate how financial reports have largely lost their relevance and present an actionable alternative for finance professionals.

Book Review: Enterprise Risk Management in Finance

Providing a general overview of salient topics in risk management, this book is best suited to the experienced risk manager, who can turn to it for technical guidance and a good, succinct refresher on select topics. The beginner would do well to stick with the book’s qualitative discussions, which can serve as useful points of departure for further study.

Book Review: Even the Odds

A leading analyst and portfolio manager shares her approach to sensible risk taking, which can be applied to anticipating, evaluating, and responding to risks in business, investing, and everyday life.



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