{"product_id":"dynamic-asset-allocation-isbn-9781576603598","title":"Dynamic Asset Allocation","description":"\u003cp\u003eToday's modern portfolio theory is not your father’s MPT. It has undergone many changes in the past fifty years. Indeed, a new understanding of MPT has emerged, one that has a significant impact on managing asset allocation—especially in today's turbulent markets. Dynamic Asset Allocation interprets and integrates the developments in modern portfolio theory: from the efficient-market hypothesis and indexing of decades past to strategies for building winning portfolios today. The book is filled with practical, hands-on advice for investors, including guidance on approaching investment as a risk-management task.\u003c\/p\u003e Acknowledgments.\u003cbr\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003e1 In the Beginning.\u003c\/p\u003e \u003cp\u003e2 Inventing Portfolio Theory.\u003c\/p\u003e \u003cp\u003e3 Other Betas.\u003c\/p\u003e \u003cp\u003e4 Rethinking Random Walks and Efficient Markets.\u003c\/p\u003e \u003cp\u003e5 The Market Portfolio Is the Benchmark.\u003c\/p\u003e \u003cp\u003e6 Rebalancing.\u003c\/p\u003e \u003cp\u003e7 Tactical Asset Allocation.\u003c\/p\u003e \u003cp\u003e8 Customizing Asset Allocation.\u003c\/p\u003e \u003cp\u003e9 Equilibrium, Economics, and Estimates.\u003c\/p\u003e \u003cp\u003e10 What Have We Learned After Fifty Years?\u003c\/p\u003e \u003cp\u003eBibliography.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJames Picerno\u003c\/b\u003e is a financial journalist who has been writing about finance and investment theory for more than twenty years. He currently contributes to trade magazines for financial professionals and financial advisers, edits \u003ci\u003eThe Beta Investment Report\u003c\/i\u003e, and writes the finance blog, the Capital Spectator. He has written for \u003ci\u003eBarron's\u003c\/i\u003e, \u003ci\u003eInvestment Advisor,\u003c\/i\u003e \u003ci\u003eMutual Funds\u003c\/i\u003e, and \u003ci\u003eBloomberg Markets\u003c\/i\u003e.\u003c\/p\u003e \u003cp\u003e\"Picerno's look at modern portfolio theory's evolution offers a timely reminder that the design and management of asset allocation is still the critical element for successful investing.\"\u003cbr\u003e—\u003cb\u003eHarold Evensky, CFP; President, Evensky \u0026amp; Katz Wealth Management\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"What Peter Bernstein did for the history of portfolio theory in Capital Ideas, Picerno does for its real-world application. He captures the nuanced soup of theory, markets, and investor behavior better than any other writer on investing.\"\u003cbr\u003e—\u003cb\u003ePatrick Geddes, Cofounder and Chief Investment Officer, Aperio Group; Former CFO and Director of Quantitative Research, Morningstar Inc.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Picerno puts the tires to the pavement on Peter Bernstein's 2003 proclamation that the policy portfolio is dead. Picerno masterfully articulates the implications that follow from the notion that although the market portfolio may be efficient, markets may not be.\"\u003cbr\u003e—\u003cb\u003eRodney N. Sullivan, CFA; Editor, \u003ci\u003eFinancial Analysts Journal\u003c\/i\u003e at CFA Institute\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Dynamic Asset Allocation is cogently written in a very readable style. James Picerno presents readers with a wonderful history of the developments in asset allocation and then profides an excellent frameword for investors to utitilize the discipline of asset allocation in their own portfolio-composition process. Any serious investor will want to have this book in their library.\"\u003cbr\u003e—\u003cb\u003eGary P. Brinson, President, GP Brinson Investments\u003c\/b\u003e\u003c\/p\u003e","brand":"Bloomberg Press","offers":[{"title":"Default Title","offer_id":47989091139813,"sku":"NP9781576603598","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781576603598.jpg?v=1761782758","url":"https:\/\/k12savings.com\/products\/dynamic-asset-allocation-isbn-9781576603598","provider":"K12savings","version":"1.0","type":"link"}