Book

Deep risk : how history informs portfolio design

Bernstein, William J

Overview

This booklet takes portfolio design beyond the familiar \"black box\" mean-variance framework. Most importantly, the short-term volatility of financial assets, commonly measured as standard deviation, is a highly imperfect measure of the actual long-horizon perils faced by real-world investors subject to the vagaries of financial and military history. These risks have names--inflation, deflation, confiscation, and devastation--and any useful discussion of portfolio design of necessity incorporates their probabilities, consequences, and costs of mitigation ... This booklet contains ... with luck, a framework within income and all-equity portfolios. This booklet contains ... with luck, a framework within which to think more clearly about risk. Note: the entire Investing for Adults series is not for beginners.

• Publisher: [Efficient Frontier?]
• Subject: Portfolio management. / Risk. / Risk management. / Rate of return History 20th century. / Investments History 20th century. / Asset allocation.
• ISBN: 9780988780316, 0988780313

Item info:

1 item available

1 item total in all locations

Holdings :

Call Number	Copies	Material	Location
HG4529.5.B468 2013	1	BOOK	AUTOSTORE