A fully updated and extensively revised new edition: how to understand markets, risk, rewards and behaviour.
The global financial crisis that erupted in 2008 exposed the flaws in many investment strategies. This book explores the controversies that surround the management of wealth and provides guidance on how to construct investment strategies that are appropriate for each investor.
With its detailed analysis, supported by data and anecdotes, it is above all a practical guide. It shows how the insights of behavioural analysis are widely reflected in investor behaviour, while emphasising the importance of basing investment strategy on the principles of traditional finance. And it takes into account new research into behavioural and traditional finance which has created new understandings of what investors want to achieve and explores investors' customary mistakes.
This fully updated and extensively revised third edition includes a wide analysis of alternative investments such as art and wine.
About the Author
Peter Stanyer is economist and strategist at a London-based private wealth manager. He was previously chief investment officer of a US-based investment firm, a managing director at Merrill Lynch and investment director of the UK's Railways Rail Pension Fund. He has also worked as an economist for the Bank of England and the IMF, and when at Cambridge University he won the Adam Smith prize for economics.
Successfully translates sophisticated academic thinking into simple, intuitive principles that can be used by both individual and institutional investors. These principles are all the more valuable as Stanyer applies them to the full range of asset classes and investment strategies available today. John Campbell, Morton L. and Carole S. Olshan Professor of Economics, Harvard University A book that provides welcome light and insight in a world in which the global financial crisis has highlighted the importance of financial education and literacy. Steve Satchell, Fellow, Trinity College Cambridge Broad in its overview, filled with recent data and research, and clearly written, this useful guide should appeal to both experienced and new investors. The author delivers relevant, practical advice by deftly discussing both the big picture at the overall portfolio level and the nuances and institutional details at the asset class level. Andrew Ang, Ann F. Kaplan Professor of Business, Columbia Business School, New York If you want to understand the key factors in constructing a successful investment strategy that suits you, this book will enable you to make better informed choices. Mark Ralphs, Partner, Financial Planning Corporation LLC Over the years I've had the privilege of reviewing many investment books, but this is unquestionably one of the best. Every financial planner, wealth manager, broker, investment adviser and serious individual investor owes it to themselves to carefully read this extraordinary book. Harold Evensky, President, Evensky & Katz LLC Stanyer targets both the professional and amateur investor and he does it with an enviably informative, accessible style European Business Truly priceless ... does a wonderful job in conveying to readers that it is better to be the tortoise than the hare in the twenty-first century. Search no more, this book is the ultimate guide to understanding all aspects of investment strategy, the markets, risk and behaviour Greg N. Gregoriou Provides an interesting explanation of the subject, written in a style appealing to both those seeking to understand investment strategy from a limited knowledge base and to more experienced readers Securities & Investment Review
Number Of Pages: 384
Published: 1st March 2014
Publisher: Profile Books Ltd
Country of Publication: GB
Dimensions (cm): 21.6 x 13.5 x 2.7
Weight (kg): 0.46
Edition Number: 3
Edition Type: Revised