Managing Investment Portfolios: A Dynamic Process

Front Cover
John L. Maginn, CFA, Donald L. Tuttle, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA
John Wiley & Sons, Mar 9, 2007 - Business & Economics - 960 pages
2 Reviews
"A rare blend of a well-organized, comprehensive guide to portfolio management and a deep, cutting-edge treatment of the key topics by distinguished authors who have all practiced what they preach. The subtitle, A Dynamic Process, points to the fresh, modern ideas that sparkle throughout this new edition. Just reading Peter Bernstein's thoughtful Foreword can move you forward in your thinking about this critical subject."
—Martin L. Leibowitz, Morgan Stanley

"Managing Investment Portfolios remains the definitive volume in explaining investment management as a process, providing organization and structure to a complex, multipart set of concepts and procedures. Anyone involved in the management of portfolios will benefit from a careful reading of this new edition."
—Charles P. Jones, CFA, Edwin Gill Professor of Finance, College of Management, North Carolina State University

 

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Contents

CHAPTER
1
CHAPTER
8
CHAPTER 2
20
CHAPTER 3
63
Foundations and Endowments
85
The Insurance Industry
101
Banks and Other Institutional Investors
120
CHAPTER 4
128
Commodity Investments
516
Hedge Funds
530
Managed Futures
557
Distressed Securities
568
CHAPTER 9
579
Identifying Risks
585
CHAPTER 10
637
The Costs of Trading
653

Tools for Formulating Capital Market Expectations
146
Economic Analysis
174
What is Asset Allocation?
231
The Selection of Asset Classes
248
The Steps in Asset Allocation
254
Implementing the Strategic Asset Allocation
296
Strategic Asset Allocation for Institutional Investors
307
Tactical Asset Allocation
320
CHAPTER 6
328
CHAPTER 7
407
Active Equity Investing
429
Semiactive Equity Investing
455
Identifying Selecting and Contracting with Equity Portfolio Managers
466
Structuring Equity Research and Security Selection
474
Alternative Investments Portfolio Management
477
Real Estate
485
Private EquityVenture Capital
498
Types of Traders and Their Preferred Order Types
663
Serving the Clients Interests
678
CHAPTER 12
717
Benchmarks
731
Performance Attribution
744
Performance Appraisal
766
The Practice of Performance Evaluation
775
CHAPTER 13
783
Provisions of the GIPS Standards
792
Verification
840
Other Issues
847
GIPS Glossary
856
Glossary
864
References
888
About the CFA Program
903
Index
913
Copyright

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About the author (2007)

JOHN L. MAGINN, CFA, is President of Maginn Associates, Inc., a financial consulting firm. He is also an adjunct professor in the MBA program at Creighton University. He is retired from Mutual of Omaha, where he was the chief investment officer and treasurer, and is also a past chairman of the board of trustees of AIMR, the predecessor to CFA Institute.

DONALD L. TUTTLE, CFA, was vice president of CFA Institute in its Curriculum and Examinations Department from 1992 until his retirement in 2004. He received a BSBA and MBA from the University of Florida and a PhD from the University of North Carolina at Chapel Hill. Dr. Tuttle taught for 21 years at Indiana University, where he chaired the Finance Department from 1970 to 1980. He was Associate Professor of Finance at the University of North Carolina and was a visiting professor at the European Institute of Business Administration (INSEAD), the University Florida, Georgetown University, and the University of Virginia. He has authored numerous articles in leading finance journals and five books on security analysis and portfolio management. He is a member of the Advisory Board of The Journal of Portfolio Management and was a trustee of over 100 mutual funds from 1982 to mandatory retirement age in 2005.

JERALD E. PINTO, PHD, CFA, is Director in of Curriculum Development   at CFA Institute. Before coming to CFA Institute in 2002, he was a consultant to corporations, foundations, and partnerships in investment planning, portfolio analysis, and quantitative analysis. He has also worked in the investment and banking industries in New York City and taught finance at New York University's Stern School of Business. He holds an MBA from Baruch College and a PhD in finance from the Stern School. Pinto obtained his CFA charter in 1992.

DENNIS W. McLEAVEY, CFA, is Head of Professional Development Products at CFA Institute. During his twenty-five-year academic career, he taught at the University of Western Ontario, the University of Connecticut, the University of Rhode Island (where he founded a student-managed fund), and Babson College. McLeavey completed a doctorate in production management and industrial engineering at Indiana University in 1972, and earned his CFA charter in 1990.

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