Practical analysis for investment professionals

asset allocation


Robert Merton on Life-Cycle Investing and Retirement Funding (Webinar)

Increasingly, it is recognized that defined benefit plans are not sustainable, and traditional defined contribution schemes are not properly designed to meet core retirement goals of most individuals. Nobel Laureate Robert C. Merton conducted… READ MORE ›

Jan Straatman: You’re Building with the Wrong Blocks!

Jan Straatman, global CIO of Lombard Odier, believes that risk management at the portfolio level has been negligent, and a different approach with a new sense of urgency is needed to build more effective solutions.

Modern Portfolio Theory: Bruised, Broken, Misunderstood, Misapplied?

If the global financial crisis has left us with any enduring lessons, it's that asset return distributions can be significantly skewed and asymmetrical with fat-tails. So how can investment practitioners manage this new reality? That question animated a recent presentation by Dr. Peng Chen, CEO Asia (ex-Japan) of Dimensional Fund Advisors, at the CFA Institute Thailand Investment Conference, which was co-sponsored with CFA Society Thailand and the country's Securities Exchange Commission.

Asset Allocation in An Uncertain World: Three Market Experts Share Their Outlooks For The Year Ahead

At a recent conference, investment professionals from Fidelity Investments, Goldman Sachs, and the State of Wisconsin Investment Board shared their frameworks for decision making and presented competing visions for how the next 12 months are likely to unfold. They also hinted at how they would position portfolios for optimal advantage.

Emerging Markets Warrant an Overweight Position in Investor Portfolios, Says David Hale

Economist David Hale told delegates at the 65th CFA Institute Annual Conference that steady increases in exports and capital spending, combined with favorable demographics, will allow emerging market… READ MORE ›

Frontier Market Investing: Inefficiency Equals Opportunity

Frontier markets are often thought of as inhospitable investing outposts where corruption abounds and investors face outsized risks. Notwithstanding, the safety and integrity of frontier markets has greatly improved over the past decade, and their growing popularity with professional investors is testament to the fact that the risk-adjusted returns offered by frontier markets are indeed attractive.

Setting the Record Straight on Asset Allocation

Evidence shows that the groundbreaking research on the importance of asset allocation has been poorly understood and widely misquoted. Practitioners of all stripes might benefit from a visit to the archives to better understand the evolution of asset allocation theory.

Book Review: Super Sectors

This book provides a highly accessible and pragmatic approach to the subject of investment vehicles. For the relative newcomer to active investing, it offers several nuggets of useful information. For veteran system developers interested in further honing their trading acumen, it serves as a refresher of key concepts.

Take 15: Global Investing in the New World Order

With much of the developed world in a sovereign debt crisis, what implications will this have on your portfolio risk profile, benchmark, and asset allocation? Having spent his entire career in emerging market and non-U.S. investments, Jeffrey P. Davis, CFA, describes what he believes is a fundamental shift in the global market portfolio.

Book Review: Portfolio Design

Richard Marston certainly has the credentials to author a book on portfolio design. Currently the academic director of the Private Wealth Management Program at the Wharton School of University of Pennsylvania, he has taught in five countries, is the recipient of both a Rhodes Scholarship and a Fulbright Fellowship, and—perhaps most relevantly—has taught asset allocation to more than 5,000 financial advisers as a faculty member in the Certified Investment Management Analyst program. Marston has accomplished what many investment academics find difficult—namely, produce a book that is truly practical and “hands-on” for both financial advisers and investors. Portfolio Design: A Modern Approach to Asset Allocation deftly combines rigorous academic research with everyday investment experience to provide a guidebook to the complexities underlying portfolio design and asset allocation.



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