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Portfolio Indexing Theory and Practice [Hardcover]

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  • Category: Books (Business & Economics)
  • Author:  Hutchinson, Harold
  • Author:  Hutchinson, Harold
  • ISBN-10:  0471988685
  • ISBN-10:  0471988685
  • ISBN-13:  9780471988687
  • ISBN-13:  9780471988687
  • Publisher:  Wiley
  • Publisher:  Wiley
  • Pages:  180
  • Pages:  180
  • Binding:  Hardcover
  • Binding:  Hardcover
  • Pub Date:  01-Mar-1999
  • Pub Date:  01-Mar-1999
  • SKU:  0471988685-11-MPOD
  • SKU:  0471988685-11-MPOD
  • Item ID: 100859660
  • List Price: $160.00
  • Seller: ShopSpell
  • Ships in: 2 business days
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  • Delivery by: Apr 06 to Apr 08
  • Notes: Brand New Book. Order Now.
The dominant paradigm in modern-day fund management remains the Capital Asset Pricing Model (CAPM). Originally developed in the 1960s as an explanatory and predictive model of capital market behaviour, it has subsequently acquired enormous significance in many fund-management institutions.

Harold Hutchinson's Portfolio Indexing is a long-overdue theoretical and practical perspective on the 'managers versus trackers' debate. He concludes that the indexing solution to risk management is flawed and that individual judgment will always have a proper role to play in investment. This much-needed book will hopefully help to stop the current steam-rolling move of the fund management industry towards indexing in its tracks, and encourage a more balanced view of the benefits of the active manager, especially in volatile or falling markets. Phillip Keane, Director, Industrial Bank of Japan Asset Management International Ltd

Portfolio Indexing challenges the growing consensus in favour of portfolio indexing as the optimal investment strategy. His devastating criticisms of the theoretical foundations underlying indexing, and his plea for a more modest inductive approach to portfolio management, have huge and as yet untapped implications for the asset management industry. Dr Andrew Allan, Vice President, Salomon Smith Barney

Professionals, students and amateur investors alike will profit from this enjoyable tract on how to maintain and navigate vehicles of investment.A Random Walk Through Finance Theory-Essential Building Blocks.

The Capital Asset Pricing Model-The Dawn of Portfolio Indexing.

Difficulties-Financial Markets in the Full Light of Day.

An Alternative-Financial Market Strategy in the Twilight.

Bibliography.

Index.Harold Hutchinson has degrees in Economics from the University of St. Andrews, Scotlandl³¥
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