Applied Asset and Risk Management

Author: Marcus Schulmerich
Publisher: Springer
ISBN: 9783642554445
Release Date: 2014-10-20
Genre: Business & Economics

This book is a guide to asset and risk management from a practical point of view. It is centered around two questions triggered by the global events on the stock markets since the middle of the last decade: - Why do crashes happen when in theory they should not? - How do investors deal with such crises in terms of their risk measurement and management and as a consequence, what are the implications for the chosen investment strategies? The book presents and discusses two different approaches to finance and investing, i.e., modern portfolio theory and behavioral finance, and provides an overview of stock market anomalies and historical crashes. It is intended to serve as a comprehensive introduction to asset and risk management for bachelor’s and master’s students in this field as well as for young professionals in the asset management industry. A key part of this book is the exercises to further demonstrate the concepts presented with examples and a step-by-step business case. An Excel file with the calculations and solutions for all 17 examples as well as all business case calculations can be downloaded at

Financial Risk Management

Author: Jimmy Skoglund
Publisher: John Wiley & Sons
ISBN: 9781119135517
Release Date: 2015-10-12
Genre: Business & Economics

Presenting an in-depth look at banking risk on a global scale, including comprehensive examination of the U.S. Comprehensive Capital Analysis and Review, and the European Banking Authority stress tests, this guide offers the most up-to-date information and expert insight into real risk management, based on the authors' experience in developing and implementing risk analytics in banks around the globe. --

The New Wealth Management

Author: Harold Evensky
Publisher: John Wiley & Sons
ISBN: 9780470624005
Release Date: 2011-05-03
Genre: Business & Economics

Mainstay reference guide for wealth management, newly updated for today's investment landscape For over a decade, The New Wealth Management: The Financial Advisor's Guide to Managing and Investing Client Assets has provided financial planners with detailed, step-by-step guidance on developing an optimal asset allocation policy for their clients. And, it did so without resorting to simplistic model portfolios, such as lifecycle models or black box solutions. Today, while The New Wealth Management still provides a thorough background on investment theories, and includes many ready to use client presentations and questionnaires, the guide is newly updated to meet twenty-first century investment challenges. The book Includes expert updates from Chartered Financial Analyst (CFA) Institute, in addition to the core text of 1997's first edition – endorsed by investment luminaries Charles Schwab and John Bogle Presents an approach that places achieving client objectives ahead of investment vehicles Applicable for self-study or classroom use Now, as in 1997, The New Wealth Management effectively blends investment theory and real world applications. And in today's new investment landscaped, this update to the classic reference is more important than ever.

Investment Theory and Risk Management

Author: Steven Peterson
Publisher: John Wiley & Sons
ISBN: 9781118238417
Release Date: 2012-04-18
Genre: Business & Economics

A unique perspective on applied investment theory and riskmanagement from the Senior Risk Officer of a major pension fund Investment Theory and Risk Management is a practicalguide to today's investment environment. The book's sophisticatedquantitative methods are examined by an author who uses thesemethods at the Virginia Retirement System and teaches themat the Virginia Commonwealth University. In addition to showing howinvestment performance can be evaluated, using Jensen's Alpha,Sharpe's Ratio, and DDM, he delves into four types of optimalportfolios (one that is fully invested, one with targeted returns,another with no short sales, and one with capped investmentallocations). In addition, the book provides valuable insights on risk, andtopics such as anomalies, factor models, and active portfoliomanagement. Other chapters focus on private equity, structuredcredit, optimal rebalancing, data problems, and Monte Carlosimulation. Contains investment theory and risk management spreadsheetmodels based on the author's own real-world experience with stock,bonds, and alternative assets Offers a down-to-earth guide that can be used on a daily basisfor making common financial decisions with a new level ofquantitative sophistication and rigor Written by the Director of Research and Senior Risk Officer forthe Virginia Retirement System and an Associate Professor atVirginia Commonwealth University's School of Business Investment Theory and Risk Management empowers both thetechnical and non-technical reader with the essential knowledgenecessary to understand and manage risks in any corporate oreconomic environment.

Das C Tutorial

Author: Andreas Stadler
Publisher: Springer-Verlag
ISBN: 9783658211004
Release Date: 2018-05-02
Genre: Mathematics

Dieses Tutorial hilft nicht nur Ingenieuren und Naturwissenschaftlern beim schnellen Einstieg und der Vertiefung in die Programmierung mit C++. Kommentierte Aufgaben, lebensnahe Beispiele und eine kompakte sowie systematische Struktur zeichnen dieses Buch aus.

Behavioral Investment Management An Efficient Alternative to Modern Portfolio Theory

Author: Greg B. Davies
Publisher: McGraw Hill Professional
ISBN: 9780071746601
Release Date: 2012-01-05
Genre: Business & Economics

A Powerful New Portfolio-Management Standard for an Investing World in Disarray “Three years of losses turn many smart investors with 30-year horizons into frightened investors with three-year horizons, driven to poor decisions by cognitive errors and misleading emotions. Greg B. Davies and Arnaud de Servigny combine great expertise from research and practice into smart portfolios that overcome cognitive errors and misleading emotions and drive investors to their long term goals.” —MEIR STATMAN, Glenn Klimek Professor of Finance, Santa Clara University, and author of What Investors Really Want “The coming of age of behavioral finance. An important book which uniquely combines up-to-date knowledge of both behavioral and quantitative finance to provide practical models grounded on robust understanding of investors as well as investments.” —SHLOMO BENARTZI, professor and co-chair, Behavioral Decision Making Group, UCLA Anderson School of Management “This book is both erudite and profound, and it acutely addresses the issues, controversies, and received wisdom of our troubled investment times. To comprehend it requires a considerable time commitment, but it may be a new investment classic.” —BARTON M. BIGGS, Managing Partner, Traxis Partners “Behavioral Investment Management first shows how modern portfolio theory can be extended to incorporate behavioral biases in individual decision making, and then demonstrates how this extended theory can be implemented to make investment decisions in a world that is very different from that assumed by traditional portfolio theory. All of this is accomplished in a coherent fashion with the use of easy-to-understand mathematics and is illustrated with data for a wide range of asset classes.” —RAMAN UPPAL, professor of finance, EDHEC Business School About the Book: The past few years have been dreadful for investment management. The quantitative analytics that serve as the foundation of modern finance have proven to be incapable of providing value to investors. Modern Portfolio Theory now appears desperately old-fashioned and obsolete for one simple reason—it does not work. Picking up where traditional quant theory leaves off, Behavioral Investment Management offers a new approach to dynamic investing that addresses critical realities MPT ignores, including investors’ emotional impact on investing. Written by leading money managers with expertise in both quantitative and behavioral finance, this cutting-edge guide shows institutional investment managers, retail investors, and investment advisors how to use the latest theories and techniques from the field of behavioral finance to construct better-performing portfolios. After systematically deconstructing MPT to illustrate why it does not work empirically, this one-of-a-kind book presents a reasonable framework for improving your ability to generate high-performing portfolios. The applicability and strategic consequences of this book’s approach set a new standard for portfolio development that will put you far ahead of the industry curve. Complete with a new paradigm of best practices in dynamic portfolio construction that incorporates, and compensates for, the emotional reactions of investors, this hands-on book shows you how to: Move away from an idealized market view to a more authentic perspective Use the provided toolset and strategies to realize superior performance in real-world markets Seamlessly adapt the new approaches and techniques into your day-to-day operations This book helps you gain a distinct advantage by providing micro and macro implications of applying behavioral science to investing. In addition to helping you better understand the needs of the individual investor, it examines the wealth management and pension fund industries and explains how behavioral science can create opportunities in these two sectors. When making your next investment decision, let Behavioral Investment Management help you factor in the biggest financial variable—the human influence.

Extreme Events Robust Portfolio Construction in the Presence of Fat Tails

Author: Malcolm Kemp
Publisher: John Wiley & Sons
ISBN: 9780470750131
Release Date: 2011-01-18
Genre: Business & Economics

With slight exaggeration, a case can be made that modern finance has been built, in practice, if not in theory, on implicit tolerance and widespread ignorance of extreme events. Jean_Pierre Landau, Deputy Governor, Banque du France Markets are fat-tailed; extreme outcomes occur more often than many might hope, or indeed the statistics or normal distributions might indicate. In this book, the author provides readers with the latest tools and techniques on how best to adapt portfolio construction techniques to cope with extreme events. Beginning with an overview of portfolio construction and market drivers, the book will analyze fat tails, what they are, their behavior, how they can differ and what their underlying causes are. The book will then move on to look at portfolio construction techniques which take into account fat tailed behavior, and how to stress test your portfolio against extreme events. Finally, the book will analyze really extreme events in the context of portfolio choice and problems. The book will offer readers: Ways of understanding and analyzing sources of extreme events Tools for analyzing the key drivers of risk and return, their potential magnitude and how they might interact Methodologies for achieving efficient portfolio construction and risk budgeting Approaches for catering for the time-varying nature of the world in which we live Back-stop approaches for coping with really extreme events Illustrations and real life examples of extreme events across asset classes This will be an indispensible guide for portfolio and risk managers who will need to better protect their portfolios against extreme events which, within the financial markets, occur more frequently than we might expect.

Fundamentals of Financial Management

Author: Eugene F. Brigham
Publisher: Cengage Learning
ISBN: 9781133709121
Release Date: 2012-08-08
Genre: Business & Economics

With the same contemporary approach and dynamic examples that made previous editions so popular, this fully revised thirteenth edition of FUNDAMENTALS OF FINANCIAL MANAGEMENT continues to provide students with a focused understanding of today's corporate finance and financial management. This market-leading text offers a unique balance of clear concepts, contemporary theory, and practical applications in order to help students understand the concepts and reasons behind corporate budgeting, financing, working capital decision making, forecasting, valuation, and Time Value of Money (TVM). The thirteenth edition has been updated to include discussions of several major events such as the BP oil spill, the European debt crisis, and the ongoing weakness in the economy and financial markets. Numerous practical examples, Quick Questions, proven end-of-chapter applications, Integrated Cases, and real-world examples demonstrate theory in action. A comprehensive support package --prepared by the text authors -- connects closely with the book to reduce preparation time and reinforce students understanding. You can also engage your students with a variety of tools including Thomson One Business School Edition, the same financial online database professionals use every day; updated Excel spreadsheets models; today's leading online homework solution, Aplia for Finance; and CengageNOW course management system. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

Der Blaue Ozean als Strategie

Author: W. Chan Kim
Publisher: Carl Hanser Verlag GmbH Co KG
ISBN: 9783446448476
Release Date: 2016-04-11
Genre: Business & Economics

Das Buch ist ein globales Phänomen. Es wurde 3,5 Millionen Mal verkauft, in rekordverdächtigen 43 Sprachen publiziert und ist auf 5 Kontinenten zum Bestseller geworden. Nun ist es in einer aktualisierten und erweiterten Auflage neu erschienen. - Der internationale Bestseller: Jetzt mit neuem Vorwort, neuen Kapiteln und aktualisierten Fallstudien - Ein Bestseller auf 5 Kontinenten - Weltweit mehr als 3,5 Millionen Bücher verkauft - In 43 Sprachen übersetzt - Ein Wall-Street-Journal-, Businessweek- und Fast-Company-Bestseller Der von Organisationen und Branchen auf der ganzen Welt hochgeschätzte Bestseller stellt alles in Frage, was wir bisher über die Voraussetzungen strategischen Erfolgs zu wissen glaubten. Der Blaue Ozean als Strategie, vertritt die Ansicht, dass ein brutaler Konkurrenzkampf nur dazu führt, dass sich die Konkurrenten in einem blutrot gefärbten Ozean um rapide schwindende Gewinnmöglichkeiten streiten. Basierend auf der Untersuchung von mehr als 150 strategischen Schachzügen (im Lauf von mehr als 100 Jahren und in mehr als 50 Branchen) vertreten die Autoren die Ansicht, dass nachhaltiger Erfolg nicht auf verschärftem Konkurrenzkampf, sondern auf der Eroberung »Blauer Ozeane« beruht: der Erschließung neuer Märkte mit großem Wachstumspotenzial. Der Blaue Ozean als Strategie präsentiert einen systematischen Ansatz, wie man Konkurrenz irrelevant macht, und legt Prinzipien und Methoden vor, mit der jede Organisation ihre eigenen Blauen Ozeane erobern kann. Diese erweiterte Auflage enthält: - Ein neues Vorwort der Autoren: Hilfe! Mein Ozean färbt sich rot. - Aktualisierungen der in dem Buch behandelten Fälle und Beispiele, indem ihre Geschichte bis in die Gegenwart weitervorfolgt wird. - Zwei neue Kapitel und ein erweitertes drittes Kapitel: Ausrichtung, Erneuerung und Red Ocean Traps. Sie behandeln die wichtigsten Fragen, die die Leser in den vergangenen zehn Jahren gestellt haben. Der bahnbrechende Bestseller stellt das bisherige strategische Denken auf den Kopf und entwirft einen kühnen neuen Weg in die Zukunft. Hier können Sie lernen, wie man neue Märkte erschließt, auf denen Konkurrenz noch keine Rolle spielt. "Das ist ein extrem wertvolles Buch." Nicolas G. Hayek, Verwaltungsratpräsident, Swatch Group "Ein Muss für Manager und Wirtschaftsstudenten." Carlos Ghosn, President und CEO, Nissan Motor Co., Ltd. "Die Strategien von Kim und Mauborgne sind nicht nur neu, sondern auch praxisnah. Wir haben sie in unserem Unternehmen mit großem Erfolg umgesetzt." Patrick Snowball, Chief Executive, Norwich Union Insurance Wenn Sie mehr über die innovative Kraft des Buches wissen wollen, besuchen Sie Dort finden Sie alle Mittel, die Sie brauchen: praktische Ideen und Fallbeispiele aus staatlichen Unternehmen und der Privatindustrie, Lehrmaterial, Mobile Apps, aktuelle Updates sowie Tipps und Tools, mit denen Sie Ihre Reise auf dem Blauen Ozean erfolgreich gestalten können.

Die intelligente Asset Allocation

Author: William J. Bernstein
Publisher: FinanzBuch Verlag
ISBN: 9783862488360
Release Date: 2006-09-13
Genre: Business & Economics

William J. Bernstein ist in Fachkreisen längst als Guru der Investmentwelt bekannt. Er betreibt eine der weltweit erfolgreichsten Investment-Websites. In diesem Buch erklärt er wie man sicher, einfach und ohne großen Zeitaufwand sein Portfolio zusammenstellen kann. Dabei beruft er sich auf Techniken, mit denen seit Jahrzehnten erfolgreich Investiert wird. Mit nur 30 Minuten Zeitaufwand im Jahr kann damit jeder ein Portfolio zusammenstellen, das 75 Prozent aller professionell gemanagten Aktienkörbe hinter sich lässt.

Leadership Challenge

Author: James M. Kouzes
Publisher: John Wiley & Sons
ISBN: 3527503749
Release Date: 2009
Genre: Executive ability

Through research, interviews and the experience of hundreds of managers, Kouzes and Posner show how leadership can be learned and mastered by all. Readable, interesting, and up-to-date. Highly recommended.--Library Journal.

Risikomanagement und KonTraG

Author: Klaus Wolf
Publisher: Springer-Verlag
ISBN: 9783322945686
Release Date: 2013-07-01
Genre: Business & Economics

Die Autoren entwickeln ein umfassendes und systematisch strukturiertes Konzept zum Aufbau eines Risikomanagement-Systems. Sie stellen neben theoretischen Grundlagen unterschiedliche Instrumente der Risikoidentifikation, der Risikobewertung und der Risikobehandlung vor und demonstrieren ihre Anwendbarkeit anhand zahlreicher Beispiele.