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Financial Management Association Survey and Synthesis Ser.: Asset Management : A Systematic Approach to Factor Investing by Andrew Ang (2014, Hardcover)

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About this product

Product Identifiers

PublisherOxford University Press, Incorporated

ISBN-100199959323

ISBN-139780199959327

eBay Product ID (ePID)201610192

Product Key Features

Number of Pages736 Pages

Publication NameAsset Management : a Systematic Approach to Factor Investing

LanguageEnglish

Publication Year2014

SubjectFinance / General, General, Investments & Securities / General

TypeTextbook

AuthorAndrew Ang

Subject AreaBusiness & Economics

SeriesFinancial Management Association Survey and Synthesis Ser.

FormatHardcover

Dimensions

Item Height1.7 in

Item Weight41.1 Oz

Item Length9.3 in

Item Width6.2 in

Additional Product Features

Intended AudienceScholarly & Professional

LCCN2013-042000

Dewey Edition23

IllustratedYes

Dewey Decimal332.601

Table Of ContentPreface: Asset ManagementPart I: The Asset OwnerChapter 1: Asset Owners Chapter 2: Preferences Chapter 3: Mean-Variance Investing Chapter 4: Investing for the Long Run Chapter 5: Investing Over the Life CyclePart II: Factor Risk PremiumsChapter 6: Factor Theory Chapter 7: Factors Chapter 8: EquitiesChapter 9: Bonds Chapter 10: Alpha (and the Low Risk Anomaly)Chapter 11: "Real" AssetsChapter 12: Tax-Efficient Investing Chapter 13: Illiquid Assets Chapter 14: Factor InvestingPart III: Delegated Portfolio ManagementChapter 15: Delegated Investing Chapter 16: Mutual Funds and Other 40-Act FundsChapter 17: Hedge Funds Chapter 18: Private Equity Afterword: Factor Management Appendix: Returns AcknowledgementsBibliographyIndex

SynopsisStocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove otherwise.In his new book Asset Management: A Systematic Approach to Factor Investing, Ang upends the conventional wisdom about asset allocation by showing that what matters aren't asset class labels but the bundles of overlapping risks they represent. Making investments is like eating a healthy diet, Ang says: you've got to look through the foods you eat to focus on the nutrients they contain. Failing to do so can lead to a serious case of malnutrition - for investors as well as diners.The key, in Ang's view, is bad times, and the fact that every investor's bad times are somewhat different. The notion that bad times are paramount is the guiding principle of the book, which offers a new approach to the age-old problem of where do you put your money? Years of experience, both as a finance professor and as a consultant, have led Ang to see that the traditional approach, with its focus on asset classes, is too crude and ultimately too costly to serve investors adequately. He focuses instead on "factor risks," the peculiar sets of hard times that cut across asset classes, and that must be the focus of our attention if we are to weather market turmoil and receive the rewards that come with doing so. Optimally harvesting factor premiums - on our own or by hiring others -r equires identifying your particular set of hard times, and exploiting the difference between them and those of the average investor. Clearly written yet chock-full of the latest research and data, Asset Management will be indispensable reading for trustees, professional money managers, smart private investors, and business students who want to understand the economics behind factor risk premiums, harvest them efficiently in their portfolios, and embark on the search for true alpha., In Asset Management: A Systematic Approach to Factor Investing, Professor Andrew Ang presents a comprehensive, new approach to the age-old problem of where to put your money. Years of experience as a finance professor and a consultant have led him to see that what matters aren't asset class labels, but instead the bundles of overlapping risks they represent. Factor risks must be the focus of our attention if we are to weather market turmoil and receive therewards that come with doing so. Clearly written yet full of the latest research and data, Asset Management is indispensable reading for trustees, professional money managers, smartprivate investors, and business students who want to understand the economics behind factor risk premiums, to harvest them efficiently in their portfolios, and to embark on the search for true alpha., Stocks and bonds? Real estate? Hedge funds? Private equity? The conventional way of allocating across asset classes fails to account for the overlapping risks they represent. Investors must consider the underlying factor risks behind asset class labels, just as eating a healthy diet requires looking through foods to the nutrients they contain. Factor risks are the hard times that affect all assets, and investors are rewarded for weathering losses during bad timeswith long-run risk premiums. Optimally harvesting factor risk premiums-on our own or by hiring others-requires identifying our particular set of bad times, and exploiting the difference between them andthose of the average investor., In Asset Management: A Systematic Approach to Factor Investing , Professor Andrew Ang presents a comprehensive, new approach to the age-old problem of where to put your money. Years of experience as a finance professor and a consultant have led him to see that what matters aren't asset class labels, but instead the bundles of overlapping risks they represent. Factor risks must be the focus of our attention if we are to weather market turmoil and receive the rewards that come with doing so. Clearly written yet full of the latest research and data, Asset Management is indispensable reading for trustees, professional money managers, smart private investors, and business students who want to understand the economics behind factor risk premiums, to harvest them efficiently in their portfolios, and to embark on the search for true alpha.

LC Classification NumberHG4028.A84A54 2014