Asset Management: A Systematic Approach to Factor Investing
In Asset Management: A Systematic Approach to Factor Investing, Professor Andrew Ang presents a comprehensive, new approach to the age-old problem of where to put your money. Years of experience as a finance professor and a consultant have led him to see that what matters arent asset class labels, but instead the bundles of overlapping risks they represent. Factor risks must be the focus of our attention if we are to weather market turmoil and receive the rewards that come with doing so. Clearly written yet full of the latest research and data, Asset Management is indispensable reading for trustees, professional money managers, smart private investors, and business students who want to understand the economics behind factor risk premiums, to harvest them efficiently in their portfolios, and to embark on the search for true alpha.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
agent alpha annuities asset allocation asset classes asset management asset owner beta CalPERS CAPM chapter companies consumption corporate bonds correlation costs CPPIB diversification economic endowment equation estimate ETFs excess returns expected returns exposure factor benchmarks factor investing factor risk fees Figure financial crisis firms fund manager fund’s growth growth stocks hedge funds hold human capital illiquid assets illiquidity risk index funds indifference curve Janus labor income leverage liabilities liquidity long-run long-term losses macro market portfolio mean-variance frontier mean-variance utility models momentum muni mutual funds negative optimal Panel pension funds pension plans portfolio weights positive predictability private equity real estate rebalance rebalancing REITs retirement risk aversion risk premiums risk-free asset risky assets Sharpe ratio shows sovereign wealth fund stock returns survivorship bias T-bills Timor-Leste trade Treasury underperform utility function value stocks value-growth variance volatility risk volatility strategy yield