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Author: E. Philip Davis
Publisher: MIT Press
ISBN: 9780262262408
Category : Business & Economics
Languages : en
Pages : 568
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Book Description
One of the most important recent developments in financial markets is the institutionalization of saving associated with the growth of pension funds, life insurance companies, and mutual funds. An increasing proportion of household saving is now managed by professional portfolio managers instead of being directly invested in the securities markets or held in the form of bank deposits. With the aging of the population and its adverse impact on public pension systems, the shift of individual savings to institutional investors is likely to become even more marked in the coming years. This book provides a comprehensive economic assessment of institutional investment. It charts the development and performance of the asset management industry and analyzes the implications of rising institutionalized saving for the development of the securities trading industry, the financial sector as a whole, and the wider economy. The book draws extensively on international experience, particularly in the United States, Western Europe, and Japan.
Author: E. Philip Davis
Publisher: MIT Press
ISBN: 9780262262408
Category : Business & Economics
Languages : en
Pages : 568
Get Book
Book Description
One of the most important recent developments in financial markets is the institutionalization of saving associated with the growth of pension funds, life insurance companies, and mutual funds. An increasing proportion of household saving is now managed by professional portfolio managers instead of being directly invested in the securities markets or held in the form of bank deposits. With the aging of the population and its adverse impact on public pension systems, the shift of individual savings to institutional investors is likely to become even more marked in the coming years. This book provides a comprehensive economic assessment of institutional investment. It charts the development and performance of the asset management industry and analyzes the implications of rising institutionalized saving for the development of the securities trading industry, the financial sector as a whole, and the wider economy. The book draws extensively on international experience, particularly in the United States, Western Europe, and Japan.
Author: Jack L. Treynor
Publisher: John Wiley & Sons
ISBN: 1118160703
Category : Business & Economics
Languages : en
Pages : 566
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Book Description
Praise for TREYNOR ON INSTITUTIONAL INVESTING "Jack Treynor has a mind of his own. I mean that as the highest compliment. Jack Treynor sees what no one else sees, thinks what no one else thinks, explains what no one else explains. You will learn more in fifteen minutes with Jack Treynor than in a full hour with most pundits. You will work hard but you will see things, think things, and understand things as never before. This book is a most valuable treasure, gleaming with Jack Treynor's brilliance." -Peter L. Bernstein, author, Capital Ideas Evolving "Vintage Treynor. This is a must-own reference for anyone involved in institutional asset management. It assembles - in one place - many of the important insights of one of the most provocative and creative players in the finance world over the past half-century." -Robert D. Arnott, Chairman, Research Affiliates, and Former Editor, Financial Analysts Journal "As a practicing investment manager, Treynor always preferred brilliance to soundness. Identifying the flaws in conventional thinking, he shows both the theorist and the practitioner where to invest time in their search for excess return." -Perry Mehrling, Professor of Economics, Barnard College, Columbia University, author, Fischer Black and the Revolutionary Idea of Finance "Jack Treynor's new book brings together a lifetime of exploring the important questions surrounding the sophisticated investor's task. Readers of Treynor on Institutional Investing will be richly rewarded by the insights the author has developed about both the practical and the conceptual keys to successful investing." -Samuel L. Hayes, III, Jacob Schiff Professor of Investment Banking Emeritus, Harvard Business School
Author: Jess Lederman
Publisher: McGraw-Hill
ISBN:
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
This guide provides strategies for coping with volatile returns and profiting with this exciting new asset class. Specific topics include: Profiles of major funds; Historical performance of hedge funds; Hedge funds as a part of the institutional portfolio; Selecting a hedge fund manager; Legal, tax and accounting issues.
Author: William M. O'Barr
Publisher: Irwin Professional Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 270
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Book Description
Today institutional investors dominate the stock market. They hold assets valued at about 6.5 trillion - almost one fifth of the country's financial assets. Furthermore, institutional investors now own well over half of the stock in the country's 100 largest corporations, including such flagship companies as IBM, GE, Johnson & Johnson, and Mobil. Because of the tremendous influence institutional investors have on American corporations, business and government policymakers must make assumptions about how and why they make decisions - their priorities, motives, and concerns. In addition, anyone who markets to institutional investors needs to know what makes them tick. Sprinkled with candid and often colorful quotations from a variety of investment insiders, Fortune and Folly gives you a unique look at what really happens on Wall Street; facts that challenge the assumptions routinely made about the economic motivations of business behavior; new insights on pension safety and possible political influences; and economic analyses by Carolyn K. Brancato, the country's foremost expert on the economics of institutional investing.
Author: Gordon L. Clark
Publisher: Oxford University Press
ISBN: 0198793219
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
This work is about what institutional investors do, how they do it, and when and where they do it; it is about the production of investment returns in the global economy. Being a text about the production process, it also tackles some of the key issues found in the academic literature on the theory of the firm.
Author: William W. Bratton
Publisher: Oxford University Press
ISBN: 0198723938
Category : Business & Economics
Languages : en
Pages : 817
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Book Description
The past two decades has witnessed unprecedented changes in the corporate governance landscape in Europe, the US and Asia. Across many countries, activist investors have pursued engagements with management of target companies. More recently, the role of the hostile activist shareholder has been taken up by a set of hedge funds. Hedge fund activism is characterized by mergers and corporate restructuring, replacement of management and board members, proxy voting, and lobbying of management. These investors target and research companies, take large positions in `their stock, criticize their business plans and governance practices, and confront their managers, demanding action enhancing shareholder value. This book analyses the impact of activists on the companies that they invest, the effects on shareholders and on activists funds themselves. Chapters examine such topic as investors' strategic approaches, the financial returns they produce, and the regulatory frameworks within which they operate. The chapters also provide historical context, both of activist investment and institutional shareholder passivity. The volume facilitates a comparison between the US and the EU, juxtaposing not only regulatory patterns but investment styles.
Author: Michael C. Thomsett
Publisher: Pearson Education
ISBN: 0133811662
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
To protect portfolios in today's volatile and uncertain market environment, institutional investors need to hedge losses, create extra sources of income, and reduce risk. In his extensively updated and expanded Options Trading for the Institutional Investor, Third Edition, renowned options expert Michael C. Thomsett shows how to do all this effectively. One step at a time, Thomsett helps institutional investors exploit powerful, carefully chosen options strategies that can dramatically increase overall returns as you manage risks within your institution's limits. Thomsett discusses covered call writing on carefully selected stocks, contingent purchase strategies, and powerful "combination" strategies that produce cash to bolster current income. He guides professional investors through every strategy, using actual examples, portfolios, and graphs taken directly from today's markets. Wherever applicable, he addresses specific forms of risk and volatility that only institutional investors face. This thoroughly updated Third Edition includes a chart-based analytical method that relies on reversal signals in the underlying as an alternative to volatility analysis. Thomsett presents new chapters on two powerful strategies he has developed and utilized to optimize returns while minimizing risk: the 1-2-3 Iron Butterfly, and the Dividend Collar. This edition also adds detailed new coverage of risk evaluation.
Author: Ignazio Basile
Publisher: Springer
ISBN: 9783319813714
Category : Business & Economics
Languages : en
Pages : 468
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Book Description
This book analyses investment management policies for institutional investors. It is composed of four parts. The first one analyses the various types of institutional investors, institutions which, with different objectives, professionally manage portfolios of financial and real assets on behalf of a wide variety of individuals. This part goes on with an in-depth analysis of the economic, technical and regulatory characteristics of the different types of investment funds and of other types of asset management products, which have a high rate of substitutability with investment funds and represent their natural competitors. The second part of the book identifies and investigates the stages of the investment portfolio management. Given the importance of strategic asset allocation in explaining the ex post performance of any type of investment portfolio, this part provides an in-depth analysis of asset allocation methods, illustrating the different theoretical and operational solutions available to institutional investors. The third part describes performance assessment, its breakdown and risk control, with an in-depth examination of performance evaluation techniques, returns-based style analysis approaches, and performance attribution models. Finally, the fourth part deals with the subject of diversification into alternative asset classes, identifying the common characteristics and their possible role within the framework of investment management policies. This part analyses hedge funds, private equity, real estate, commodities, and currency overlay techniques.
Author: David F. Swensen
Publisher: Simon and Schuster
ISBN: 1416554033
Category : Business & Economics
Languages : en
Pages : 433
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Book Description
In the years since the now-classic Pioneering Portfolio Management was first published, the global investment landscape has changed dramatically -- but the results of David Swensen's investment strategy for the Yale University endowment have remained as impressive as ever. Year after year, Yale's portfolio has trumped the marketplace by a wide margin, and, with over $20 billion added to the endowment under his twenty-three-year tenure, Swensen has contributed more to Yale's finances than anyone ever has to any university in the country. What may have seemed like one among many success stories in the era before the Internet bubble burst emerges now as a completely unprecedented institutional investment achievement. In this fully revised and updated edition, Swensen, author of the bestselling personal finance guide Unconventional Success, describes the investment process that underpins Yale's endowment. He provides lucid and penetrating insight into the world of institutional funds management, illuminating topics ranging from asset-allocation structures to active fund management. Swensen employs an array of vivid real-world examples, many drawn from his own formidable experience, to address critical concepts such as handling risk, selecting advisors, and weathering market pitfalls. Swensen offers clear and incisive advice, especially when describing a counterintuitive path. Conventional investing too often leads to buying high and selling low. Trust is more important than flash-in-the-pan success. Expertise, fortitude, and the long view produce positive results where gimmicks and trend following do not. The original Pioneering Portfolio Management outlined a commonsense template for structuring a well-diversified equity-oriented portfolio. This new edition provides fund managers and students of the market an up-to-date guide for actively managed investment portfolios.
Author: Ted Seides
Publisher: Harriman House Limited
ISBN: 0857198874
Category : Business & Economics
Languages : en
Pages : 197
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Book Description
The chief investment officers (CIOs) at endowments, foundations, family offices, pension funds, and sovereign wealth funds are the leaders in the world of finance. They marshal trillions of dollars on behalf of their institutions and influence how capital flows throughout the world. But these elite investors live outside of the public eye. Across the entire investment industry, few participants understand how these holders of the keys to the kingdom allocate their time and their capital. What’s more, there is no formal training for how to do their work. So how do these influential leaders practice their craft? What skills do they require? What frameworks do they employ? How do they make investment decisions on everything from hiring managers to portfolio construction? For the first time, CAPITAL ALLOCATORS lifts the lid on this opaque corner of the investment landscape. Drawing on interviews from the first 150 episodes of the Capital Allocators podcast, Ted Seides presents the best of the knowledge, practical insights, and advice of the world’s top professional investors. These insights include: - The best practices for interviewing, decision-making, negotiations, leadership, and management. - Investment frameworks across governance, strategy, process, technological innovation, and uncertainty. - The wisest and most impactful quotes from guests on the Capital Allocators podcast. Learn from the likes of the CIOs at the endowments of Princeton and Notre Dame, family offices of Michael Bloomberg and George Soros, pension funds from the State of Florida, CalSTRS, and Canadian CDPQ, sovereign wealth funds of New Zealand and Australia, and many more. CAPITAL ALLOCATORS is the essential new reference manual for current and aspiring CIOs, the money managers that work with them, and everyone allocating a pool of capital.
