"This new edition of Active Portfolio Management continues the standard of excellence established in the first edition, with new and clear insights to help investment professionals." -William E. Jacques, Partner and Chief Investment Officer, Martingale Asset Management. "Active Portfolio Management offers investors an opportunity to better understand the balance between manager skill and portfolio risk. Both fundamental and quantitative investment managers will benefit from studying this updated edition by Grinold and Kahn." -Scott Stewart, Portfolio Manager, Fidelity Select Equity (R) Discipline Co-Manager, Fidelity Freedom (R) Funds. "This Second edition will not remain on the shelf, but will be continually referenced by both novice and expert. There is a substantial expansion in both depth and breadth on the original. It clearly and concisely explains all aspects of the foundations and the latest thinking in active portfolio management." -Eric N. Remole, Managing Director, Head of Global Structured Equity, Credit Suisse Asset Management. Mathematically rigorous and meticulously organized, Active Portfolio Management broke new ground when it first became available to investment managers in 1994. By outlining an innovative process to uncover raw signals of asset returns, develop them into refined forecasts, then use those forecasts to construct portfolios of exceptional return and minimal risk, i.e., portfolios that consistently beat the market, this hallmark book helped thousands of investment managers. Active Portfolio Management, Second Edition, now sets the bar even higher. Like its predecessor, this volume details how to apply economics, econometrics, and operations research to solving practical investment problems, and uncovering superior profit opportunities. It outlines an active management framework that begins with a benchmark portfolio, then defines exceptional returns as they relate to that benchmark. Beyond the comprehensive treatment of the active management process covered previously, this new edition expands to cover asset allocation, long/short investing, information horizons, and other topics relevant today. It revisits a number of discussions from the first edition, shedding new light on some of today's most pressing issues, including risk, dispersion, market impact, and performance analysis, while providing empirical evidence where appropriate. The result is an updated, comprehensive set of strategic concepts and rules of thumb for guiding the process of-and increasing the profits from-active investment management.
0 有用 风乍起 2019-09-28 14:11:28
工作用的,数学表达式可以更加友好点吧
0 有用 Zizon 2015-11-28 14:29:01
挺实用/功利主义的一个作者,对待"经典"理论的态度就是取有用的部分参考下就好了.每章节基本两个部分,前面是较直接的描述,后面会补一些相应的推导展开.不过多数过于形式化了,不是很有意义.
0 有用 Markov 2018-01-19 09:33:59
第三遍再度,五星推荐
0 有用 抹茶夏 2011-04-24 21:11:28
烂书!!!直接绕到比较好!!!╮(╯_╰)╭
1 有用 roundhead 2017-01-06 00:06:59
蛮神奇的,尤其是information ratio那部分。不过如果有的选的话我是拒绝看这本书的。
0 有用 梨花三千喵 2021-12-30 02:14:33
看完后再时不时拿出来翻翻吧。。。
0 有用 鸡蛋饼烧麦 2021-12-01 23:37:43
终于看完了。。。虽然讲的不深但挺全面。
0 有用 · 2021-02-14 18:12:02
就看了第一个部分,总体而言可能有点点过时,也不会讲到触及核心找alpha的内容,但是前边的CAPM,factor model之类的看看还是不亏的。
0 有用 星泽落 2019-11-03 23:14:53
读完就以为自己投资如何入门了
0 有用 风乍起 2019-09-28 14:11:28
工作用的,数学表达式可以更加友好点吧