Efficient asset management
Subtitle: a practical guide to stock portfolio optimization and asset allocation
By: Richard O. Michaud.
Series: Financial Management Association survey and synthesis series
Publisher: Harvard Business School Press
Published: 1998
Place of publication: Boston, Mass
Language: eng
Number of pages: 152
Subjects: Investment analysis -- Mathematical models; Portfolio management -- Mathematical models
Description: With clear definitions and real-world examples, Efficient Asset Management illuminates highly intuitive yet rigorous new approaches to defining optimal portfolios that will appeal to investment management executives, financial consultants, brokers, fund trustees, and everyone seeking to stay abreast of current investment techniques.

Drawing on his original research, Michaud proposes a new, more effective approach to defining portfolio efficiency. In addition, he identifies and explains a number of powerful techniques - including the statistical analysis of optimized portfolios, improved input estimation, the definition and use of portfolio priors, the integration of forecasts with historical data, and tests for portfolio revisions - that managers can use to enhance the value of their optimized portfolios.

He illustrates the impact of each method through a simple asset allocation problem, providing readers with a practical, hands-on perspective of the procedures detailed throughout Efficient Asset Management.
Notes: Includes index.