Custom cover image
Financial advice and investment decisions : a manifesto for change / Jarrod W. Wilcox, Frank J. Fabozzi
Contributor(s): Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: The Frank J. Fabozzi series | Frank J. Fabozzi Ser ; v.195Publisher: Hoboken, New Jersey : Wiley, [2013]Copyright date: ©2013Edition: Online-AusgDescription: Online-Ressource (1 online resource (xv, 335 pages)) : illustrations (black and white)ISBN:- 9781118415320
- 9781118418116
- 9781306168991
- 1306168996
- 332.6
- HG4529.5
Contents:
Summary: A practical guide to adapting financial advice and investing to a post crisis world There's no room for "business as usual" in today's investment management environment. Following the recent financial crisis, both retail and institutional investors are searching for new ways to oversee investment portfolios. How do you combine growth with a focus on wealth preservation? This book offers you a fresh perspective on the changes in tools and strategies needed to effectively achieve this goal. Financial Advice and Investment Decisions provides today's investment professionals with the conceptual framework and practical tools they need to successfully invest in and manage an investment portfolio with wealth preservation as a key concern. While there are many qualitative discussions, the authors present strong quantitative theory and practice in the form of small conceptual models, simulation, and empirical research. A comprehensive guide to properly managing investments with a focus on matching security and growth goals with the needs of the investor Blends insights gleaned from portfolio management practices used prior to the market mayhem of 2007-2009 with cutting-edge academic and professional investment research Includes innovative and wide-ranging treatment of subjects such as augmented balance sheets, the efficiency of markets, saving, spending, and investing habits, and dealing with uncertainty Description of opportunities for improving the investing environment The recent financial crisis has opened our eyes to the need for improving the way we invest. This book will put you in a better position to excel in this new economic environment.Summary: Cover -- Title Page -- Copyright Page -- Dedication -- Contents -- Preface -- Acknowledgments -- About the Authors -- CHAPTER 1 Why Do We Need Better Financial Advice? -- The Individual -- Organizational Influences -- The Rest of the Story -- CHAPTER 2 The Evidence Is Compelling -- Financial Planning -- Your Most Important Investment Decision -- Option Payoffs are Not Simple -- After-Tax Payoffs are Not Simple -- Our Primitive Brains and Monkey See, Monkey Do -- Others' Agendas and the Perils of the Ivory Tower -- CHAPTER 3 The Extended Balance Sheet Approach to Financial Planning -- The Simplest Model -- The Stochastic Dynamic Programming Alternative -- The Mental Accounting Alternative -- The Extended Balance Sheet -- A Financial Planning System -- CHAPTER 4 Properties of Mostly Efficient Markets -- Multi-Agent Emergent Behavior -- Why Security Returns are Difficult to Predict -- Markets Bubble and Crash -- Investment Implications of Market Characteristics -- CHAPTER 5 Growing Discretionary Wealth -- The Discretionary Wealth Approach -- Elements of the Approach -- Appropriate Markowitz Risk Aversion -- CHAPTER 6 Coping with Uncertain Knowledge -- Interpretation of Probability -- Bayesian Probability Fundamentals -- Resisting Forecasting Overconfidence -- Making Estimates More Robust to Extreme Observations -- Taking Context into Account -- Making Better Use of Information in Decisions -- CHAPTER 7 Controlling Investing Behavioral Biases -- Facing Up to Complexity -- Promoting Independent Thinking -- Controlling Organizational Biases -- CHAPTER 8 Tax Efficient Investing -- Context -- Taxes that Affect Investment Returns -- General Principles of After-Tax Investing -- Measurement of After-Tax Performance and Benchmarks -- CHAPTER 9 Matching Investment Vehicles to Needs -- Revisiting Risk Aversion -- Taxes Again -- Diversification.PPN: PPN: 807200522Package identifier: Produktsigel: ZDB-26-MYL | ZDB-30-PAD | ZDB-30-PBE | ZDB-30-PQE
""Half Title page""; ""Title page""; ""Copyright page""; ""Preface""; ""Acknowledgments""; ""About the Authors""; ""Chapter 1: Why Do We Need Better Financial Advice?""; ""The Individual""; ""Organizational Influences""; ""The Rest of the Story""; ""Chapter 2: The Evidence Is Compelling""; ""Financial Planning""; ""Your Most Important Investment Decision""; ""Option Payoffs are not Simple""; ""After-Tax Payoffs are Not Simple""; ""Our Primitive Brains and Monkey See, Monkey Do""; ""Others’ Agendas and the perils of the Ivory Tower""
""Chapter 3: The Extended Balance Sheet Approach to Financial Planning""""The Simplest Model""; ""The Stochastic Dynamic Programming Alternative""; ""The Mental Accounting Alternative""; ""The Extended Balance Sheet""; ""A Financial Planning System""; ""Chapter 4: Properties of Mostly Efficient Markets""; ""Multi-Agent Emergent Behavior""; ""Why Security Returns are Difficult to Predict""; ""Markets Bubble and Crash""; ""Investment Implications of Market Characteristics""; ""Chapter 5: Growing Discretionary Wealth""; ""The Discretionary Wealth Approach""; ""Elements of the Approach""
""Appropriate Markowitz Risk Aversion""""Chapter 6: Coping with Uncertain Knowledge""; ""Interpretation of Probability""; ""Bayesian Probability Fundamentals""; ""Resisting Forecasting Overconfidence""; ""Making Estimates More Robust to Extreme Observations""; ""Taking Context into Account""; ""Making Better Use of Information in Decisions""; ""Chapter 7: Controlling Investing Behavioral Biases""; ""Facing Up to Complexity""; ""Promoting Independent Thinking""; ""Controlling Organizational Biases""; ""Chapter 8: Tax Efficient Investing""; ""Context""; ""Taxes That Affect Investment Returns""
""General Principles of After-Tax Investing""""Measurement of After-Tax Performance and Benchmarks""; ""Chapter 9: Matching Investment Vehicles to Needs""; ""Revisiting Risk Aversion""; ""Taxes Again""; ""Diversification""; ""Higher Moments""; ""Implementation""; ""Chapter 10: Active vs. Passive Strategies""; ""Pricing Efficiency and the Active-Passive Debate""; ""Chapter 11: Performance Measurement""; ""Relating Measurement to Purpose""; ""Spending Control""; ""Measurement for Individual Passive Investing""; ""Performance Reporting for Active Investors""
""Delegating Your Investments Based on Measurements""""Measuring vs. Evaluating Performance""; ""Chapter 12: Organizational Investing""; ""Representative Investing Organizations""; ""Delegating Superior Investing Results""; ""Motivating Organizational Benefits""; ""Chapter 13: Financial Advice and Society""; ""Social Ideals and Financial Problem Symptoms""; ""Redesigning Society with Better Financial Advice""; ""And in Conclusion …""; ""Appendix A: Traditional Asset Classes and Alternative Assets""; ""Asset Class Defined""; ""Common Stock Asset Classes""; ""Real Estate""
""Alternative Assets""
No physical items for this record