By Richard A. Ferri
WHEN IT involves making an investment to your destiny, THERE'S just one yes BET—ASSET ALLOCATION THE effortless approach to GET STARTED every little thing you want to learn about How To:
* enforce a sensible asset allocation strategy
* Diversify your investments with shares, bonds, genuine property, and different classes
* switch your allocation and lock in profits attempting to outwit the marketplace is a foul gamble. If you're interested by making an investment for the longer term, you'll want to take a no-nonsense, businesslike method of your portfolio. as well as masking the entire fundamentals, this new version of All approximately Asset Allocation comprises well timed recommendation on:
* studying which investments paintings good jointly and why
* selecting the best mutual cash and ETFs
* developing an asset allocation that's correct on your needs
* realizing how and whilst to alter an allocation
* realizing target-date mutual cash "All approximately Asset Allocation deals recommendation that's either prudent and practical—keep it uncomplicated, diversify, and, chiefly, continue your charges low—from an writer who either understands how important asset allocation is to funding good fortune and, most vital, works with actual people." — John C. Bogle, founder and previous CEO, the forefront crew "With All approximately Asset Allocation at your facet, you'll be executing a valid funding plan, utilizing the easiest fabrics and donning the simplest security rope that money can buy." — William Bernstein, founder, Effi cientFrontier.com, and writer, The clever Asset Allocator
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Extra resources for All About Asset Allocation (2nd Edition)
Scanlan, CFA Barclays Global Investors San Francisco, California Jan R. Squires, CFA CFA Institute Hong Kong 1. INTRODUCTION In the context of portfolio management, the terms private client, high-net-worth investor, and individual investor are used virtually interchangeably to reference the unique challenges of managing personal or family assets. Although a more precise definition of the individual investor is elusive, the basic need to properly manage one’s financial affairs is self-evident, and the precedent for seeking professional management is well established.
A multiperiod perspective can address the liquidity and tax considerations that arise from rebalancing portfolios over time, as well as serial correlation (long- and short-term dependencies) in returns, but is more costly to implement. This chapter focuses on the creation of an IPS in the planning step and thereby lays the groundwork for the discussion in later chapters of tailoring the IPS to individual and institutional investors’ needs. The execution and feedback steps in the portfolio management process are as important as the planning step and will receive more attention in subsequent chapters.
4 This section on the future of portfolio management was contributed by Dr. Zvi Bodie. ’’ Every thoughtful person who has explored the subject has concluded that professional standards are of two types: standards of competence and standards of conduct. Merely drawing a livelihood from managing or advising on the investment of client monies is insufficient in itself to make an investment professional. But verbal distinctions are not the most important point. The conduct of a portfolio manager affects the well-being of clients and many other people.