Asset Allocation: From Theory to Practice and Beyond

Discover a masterful exploration of the fallacies and challenges of asset allocation

In  Asset Allocation: From Theory to Practice and Beyond—the newly and  substantially revised Second Edition of A Practitioner’s Guide to Asset  Allocation—accomplished finance professionals William Kinlaw, Mark P.  Kritzman, and David Turkington deliver a robust and insightful  exploration of the core tenets of asset allocation.

Drawing  on their experience working with hundreds of the world’s largest and  most sophisticated investors, the authors review foundational concepts,  debunk fallacies, and address cutting-edge themes like factor investing  and scenario analysis. The new edition also includes references to  related topics at the end of each chapter and a summary of key takeaways  to help readers rapidly locate material of interest.

The book also incorporates discussions of:

•The characteristics that define an asset class, including stability, investability, and similarity

•The fundamentals of asset allocation, including definitions of expected return, portfolio risk, and diversification

•Advanced  topics like factor investing, asymmetric diversification, fat tails,  long-term investing, and enhanced scenario analysis as well as tools to  address challenges such as liquidity, rebalancing, constraints, and  within-horizon risk.

Perfect  for client-facing practitioners as well as scholars who seek to  understand practical techniques, Asset Allocation: From Theory to  Practice and Beyond is a must-read resource from an author team of  distinguished finance experts and a forward by Nobel prize winner Harry  Markowitz.