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Strategic versus tactical asset allocation in markets with high uncertainty

2013-02-05 Business & Economics
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Release : 2013-02-05
Genre : Business & Economics
Kind : eBook
Book Rating : 418/5 ( reviews)

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Book Synopsis Strategic versus tactical asset allocation in markets with high uncertainty by : Daniel Hosp

Download or read book Strategic versus tactical asset allocation in markets with high uncertainty written by Daniel Hosp. This book was released on 2013-02-05. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Business economics - Investment and Finance, University of Innsbruck, course: Sales Management in Banking and Finance, language: English, abstract: Asset allocation strategies are a frequently discussed topic with increasing importance in times of crisis. Such strategies should prevent us from price deterioration in bad times and ensure high return potentials in good times. More and more tactical asset allocation funds emerge and promise better returns than simple strategy funds. They always try to be on the right market side, in up as well as in down phases. This seminar paper deals with some basic question about what strategic and tactical asset allocation is, when should it be used and if these strategies are appropriate in a highly uncertain environment like the current. It should give the reader a broad overview about the topic by referring to different accepted theories and studies. First the development of asset allocation methods will be described resulting in strategic and tactical asset allocation and an evaluation of them. Furthermore a link toward uncertain market conditions will be compounded.

Strategic and Tactical Asset Allocation

2018-07-21 Business & Economics
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Release : 2018-07-21
Genre : Business & Economics
Kind : eBook
Book Rating : 540/5 ( reviews)

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Book Synopsis Strategic and Tactical Asset Allocation by : Henrik Lumholdt

Download or read book Strategic and Tactical Asset Allocation written by Henrik Lumholdt. This book was released on 2018-07-21. Available in PDF, EPUB and Kindle. Book excerpt: This book covers each step in the asset allocation process, addressing as many of the relevant questions as possible along the way. How can we formulate expectations about long-term returns? How relevant are valuations? What are the challenges to optimizing the portfolio? Can factor investing add value and, if so, how can it be implemented? Which are the key performance drivers for each asset class, and what determines how they are correlated? How can we apply insights about the business cycle to tactical asset allocation? The book is aimed at finance professionals and others looking for a coherent framework for decision-making in asset allocation, both at the strategic and tactical level. It stresses analysis rather than pre-conceived ideas about investments, and it draws on both empirical research and practical experience to give the reader as strong a background as possible.

Strategic Asset Allocation for Long-Term Investors

2013
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Release : 2013
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Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Strategic Asset Allocation for Long-Term Investors by : Roy P. M. M. Hoevenaars

Download or read book Strategic Asset Allocation for Long-Term Investors written by Roy P. M. M. Hoevenaars. This book was released on 2013. Available in PDF, EPUB and Kindle. Book excerpt: We study the effect of parameter uncertainty on the long-run risk for three asset classes: stocks, bills and bonds. We model return dynamics as a Bayesian vector autoregression. With an uninformative prior we find that parameter uncertainty raises the annualised long-run volatilities of all three asset classes proportionally with the same factor relative to estimates that are conditional on ML parameter estimates. Correlations among returns appear robust against parameter uncertainty. As a result the effect of the investment horizon on optimal asset allocations is much weaker compared to models in which only equity returns are subject to parameter uncertainty. While equity is more volatile, the same holds for the other asset classes. Results are sensitive to alternative informative priors, but generally the term structure of risk for stocks and bonds are relatively flat for investment horizons up to 15 years.

Asset Allocation For All Markets

2021-11-05 Business & Economics
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Release : 2021-11-05
Genre : Business & Economics
Kind : eBook
Book Rating : 782/5 ( reviews)

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Book Synopsis Asset Allocation For All Markets by : Terry Grennon

Download or read book Asset Allocation For All Markets written by Terry Grennon . This book was released on 2021-11-05. Available in PDF, EPUB and Kindle. Book excerpt: We know asset allocation theory, and reality is much different in a market meltdown. This book highlights the most critical research tied to investing in up and down market cycles, asset allocation, and investment management over the last 50 years. We start with a critical look at diversification and asset allocation; we provide an in-depth analysis of investing in stocks, we then provide details on two active asset allocation approaches, make a case for index funds, and then introduce you to a management tool which we'll use to manage the asset allocation strategy going forward.

Active Asset Allocation

1992 Business & Economics
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Release : 1992
Genre : Business & Economics
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Book Synopsis Active Asset Allocation by : Robert D. Arnott

Download or read book Active Asset Allocation written by Robert D. Arnott. This book was released on 1992. Available in PDF, EPUB and Kindle. Book excerpt: No issue is more critical to institutional investors than asset allocation. In today's volatile and increasingly global financial markets, asset mix and portfolio allocation are ever more important. However, the term asset allocation means different things to different people in different contexts. Whether policy asset allocation, tactical asset allocation or dynamic strategies for asset allocation, the policies and tactics are designed to reshape the return distribution. Because there are a number of decisions to make and issues to evaluate when reviewing asset allocation, this authoritative text assembles some of the best thinking in the investment world today on the subject of asset allocation. In Active Asset Allocation, pension sponsors, endowment and foundation managers and portfolio managers will find answers to many of the perplexing problems of assessing and managing the asset mix. Editors Robert D. Arnott and Frank J. Fabozzi, joined by a host of eminent practitioners and theoreticians, focus on the many dimensions of the asset allocation decision, tactical asset allocation and the risks associated with active asset allocation. Completely revised to reflect the latest thinking, Active Asset Allocation updates the ground-breaking material that made the first edition a critically acclaimed best-seller. Some of these current thoughts on asset allocation are communicated through a comprehensive series of chapters, including Managing the Asset Mix; Asset Performance and Surplus Control; Risk-Adjusted Surplus; Tax Consequences of Trading; A Disciplined Approach to Global Asset Allocation; Does Tactical Asset Allocation Work? and At Last, a Rational Case forLong-Horizon Risk Tolerance and for Asset Allocation Timing?

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