Book Description
Gain the statistical tools and techniques you need to understand today's financial markets with the Second Edition of this critically acclaimed book.
Youll find a comprehensive and systematic introduction to financial econometric models and their applications in modeling and predicting financial time series data. This edition continues to emphasize empirical financial data and focuses on real-world examples. Youll master key aspects of financial time series, including volatility modeling, neural network applications, market microstructure and high-frequency financial data, continuous-time models and Ito's Lemma, Value at Risk, multiple returns analysis, financial factor models, and econometric modeling via computation-intensive methods.
This is an ideal textbook for MBA students and a key reference for researchers and professionals in business and finance. Order your copy today.
Download Description
Analysis of Financial Time Series, Second Edition provides a comprehensive and systematic introduction to current financial econometric models and their applications to modeling and prediction of financial time series data. It utilizes real-world examples and real financial data throughout the book to apply the models and methods described. The author begins with basic characteristics of financial time series data before covering three main topics: analysis and application of univariate financial time series; the return series of multiple assets; and Bayesian inference in finance methods.
Customer Reviews:
Excellent and detailed reference.......2007-05-03
The coverage of the topic is broad and deep. It is one of the few introductory books that devotes some space to transfer function modeling and does so intelligibly.
A must have for the novice as well as those more familiar with the topic that need a solid reference.
The best for Masters level, great all-around.......2007-02-12
This text is absolutely perfect for Masters students learning financial econometrics. There is a little theory, clear explanations, and quite a few real world examples. (I don't think any text would tell the reader what model to use when, because that's application-specific.) It assumes some knowledge of finance and basic econometrics/statistics, which is fair enough. To get more theory, Hamilton (1994) remains the authority, and Campbell, Lo, MacKinlay (1997) is a great introduction for PhD students, and generally an ideal companion volume to this one.
Excellent reference!.......2006-11-05
This book is an excellent toolbox for anyove dealing in the field of financial engineering, however, as a real toolbox, the author doesn't explain the exact use of all tools and how to interpret the results. This is why this book is for advanced users who need a well documented reference but it is not very suitable for beginners in the field. The Splus code is welcome.
Broad coverage, but not for the faint-hearted.......2006-07-05
Written by a University of Chicago professor, this book comprehensively covers times series topics relative to investment and trading-oriented finance (i.e., Wall Street money-making machines). Treatment is generally clear and thorough, but an advanced math and stat background is an absolute prerequisite for understanding the materials.
S-Plus/R code is given, but strangely, there is very little on *why* and
*when* one uses each of the techniques. Under what cirmcustances should I use or not use GARCH? What exactly is PCA good for in real-world applications? These important questions are not answered, in other words, you don't get a sense of the real-world context for these topics.
Best textbook I have ever read .......2005-09-19
First of all, it is well written in a very practical point of view. The whole book is aimed fullly to real financial data(appended in the author's web). People can gain not only the well-explained theories but the hand-on experience with data analysis using SPLUS or any other package.
Secondly, the author is a real expert in this field and has been publishing lots of nice work. All models in the book are clearly illustrated and commented.
Thirdly, it covers a lot of topics in analysis of FT. Reader can learn almost all the valuable things in this field from this book.
If anyone wanna truly learn this book, she/he has to sit down and plays some real data on computer. I think this is the best way and the only way to use this book.
Book Description
Financial statements are the basis for a wide range of business analysis. Managers, securities analysts, bankers and consultants all use them to make business decisions. There is strong demand among business students for course materials that provide a framework for using financial statement data in a variety of business analysis and valuation contexts.
Customer Reviews:
Case study is worth reading..........2007-04-21
First part of this book is about reading financial statements. If you already know the statements, you don't need to read the first part. However, even if you can read the statements, the second part, case study, will be helpful to your real analysis.
good case study.......2006-04-30
I found the chapters are not very in detail. I was using it as the textbook and the lecture notes are way better. I read the book at the begginning but stopped in the middle as it doesn't really help. However, the end of chapter case studies are pretty good.
Useful if cumbersome.......2002-12-16
This review applies to the edition WITH CASES. This isn't recommended for anyone who is just starting out with choosing investments. Beginners might be better off with a more general overview of financial statement analysis (FSA) like Higgins' "Analysis of Financial Statements" or Fraser and Omriston's "Understanding Financial Statements".
This was one of two textbooks used in a financial statement analysis course I took for my MBA. Most chapters are down-to-earth and as a whole the book is well-written.
The other text we used was Penman's "Financial Statement Analysis and Security Valuation" which was also a great resource as far as gaining a basic understanding of the mechanics of financial statements and how to build a valuation model.
I contrast the two books because while Penman provides a run-down of several different models analysts can use (and does a good job of arguing for the Residual Income Model of valuation model as being the best), Palepu delves into the implications of companies' choices of accounting methods and provides more insight into what different kinds of businesses should look like in terms of their financial statements.
The cases at the end of each chapter add a lot of value to the text because they get students to focus on the specific issues detailed in each chapter. By picking apart different companies' financial statements we learned to use financial statements to assess the success or failure of companies' efforts to carry out their business strategies.
I rate it "Good - 4 stars"
Required Text.......2002-09-17
This is a required text at my school, but after having read the first 5 chapters there is almost nothing of value that I have read. I have spoken to several people that have used this text for the class in prior semesters and they told me that they had stopped reading it after the first several chapters also.
Excellent Capstone Book.......2000-10-12
This book is an excellent description of all the elements that would go into reviewing a potential investment opportunity. It is not a detailed book in one category, such as financial accounting, but it ties business strategy analysis, financial analysis, forecasting analysis, and valuation analysis together. Most other books focus on one area and don't tie all of these together well. This one takes you down the path to evaluating the opportunity to its fullest. It is an excellent capstone book after you have sifted through the details of strategy, finance, and accounting.
Book Description
Analysis for Financial Management 8e is a paperback text and has been written to present standard techniques and modern developments in a practical and intuitive manner. It is intended for non-financial managers and business students interested in the practice of financial management. Emphasis is on the managerial applications of financial analysis.
Customer Reviews:
One of the best Financial Text Books I've Come Across.......2007-02-28
I have to say, I normally wouldn't consider writing a review for a text book. But this one is good.
In most of the financial classes I've attended, I am usually left scratching my head when introduced to new concepts because the text is so dense and the examples provided very rarely explain it enough. This textbook is so well-written that, although much of the material builds upon concepts introduced in earlier chapters, reading the earlier chapters isn't entirely required to understand the subject matter: each chapter stands on its own.
Also, Higgins's style is reminiscent of those fine classic textbooks from the mid-20th century, such as Elements of Style by Strunk & White and The Intelligent Investor by Benjamin Graham, interjecting dry, and at times belly-laughingly funny, humor into the text.
This book deserves to be a classic.
Easy to understand..........2006-11-04
This book has been around for a while and is useful even for people without a Finance background. As you proceed further in the book, the chapters get in to complicated issues in finance. Nevertheless its important for a manager to understand the financial implications of every decision. Strongly recommend.
An understandable text book!.......2006-11-02
I was asked my a corporate finance professor to purchase this book along with our school required text book. This book was a fraction of the size of our text book and packed a much greater punch. Just read this book and skip out on your textbook because the text teachers you nothing that can be applied to real life situation.
Explaining the Financial Aspects of a business.......2006-04-27
This book is aimed not at the financial planner, but at the nonfinancial business executive or business student interested in understanding financial management. The only prerequisite for the book is a bit of familiarity with financial statements and a curiosity about the money side of the business.
This book is now in its eighth edition. That alone is an indication of its success in meeting the needs of the marketplace. The eighth edition includes material on several of the new an innovative business practices such as the Dutch Auction for Google's initial public offering, why lenders were willing to lend Amazon $350 million just after they reported a loss of $146 million, Dell's breakthrough in working capital practices, Microsoft's cash position of almost $50 Billion. (Microsoft says they need this much cash for potential acquisitions - like maybe they decide to buy a small country).
This particular edition of the book comes with access to the Educational Version of Standard & Poor's Market Insight on-line data resource so you can work with real data that is as current as can be obtained by anyone.
Average customer rating:
- Great for the novice Risk Manager
- This book is a must read for all mid-level and executive level managers
- Remarkably Succinct Coverage of a Hot New Topic
- A well written and thought out book on Risk Management
- A Must Read for Risk Management
|
Enterprise Risk Management: From Incentives to Controls
James Lam
Manufacturer: Wiley
ProductGroup: Book
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Similar Items:
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Making Enterprise Risk Management Pay Off: How Leading Companies Implement Risk Management
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Simple Tools and Techniques for Enterprise Risk Management (The Wiley Finance Series)
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ASIN: 0471430005 |
Book Description
Enterprise risk management is a complex yet critical issue that all companies must deal with as they head into the twenty-first century. It empowers you to balance risks with rewards as well as people with processes. But to master the numerous aspects of enterprise risk management, you must first realize that this approach is not only driven by sound theory but also by sound practice. No one knows this better than risk management expert James Lam. In Enterprise Risk Management: From Incentives to Controls, Lam distills twenty years' worth of experience in this field to give you a clear understanding of both the art and science of enterprise risk management.
Organized into four comprehensive sections, Enterprise Risk Management offers in-depth insights, practical advice, and real world case studies that explore every aspect of this important field.
- Section I: Risk Management in Context lays a solid foundation for understanding the role of enterprise risk management in today’s business environment.
- Section II: The Enterprise Risk Management Framework offers an executive education on the business rationale for integrating risk management processes.
- Section III: Risk Management Applications discusses the applications of risk management in two dimensions–functions and industries.
- Section IV: A Look to the Future rounds out this comprehensive discussion of enterprise risk management by examining emerging topics in risk management with respect to people and technology.
JAMES LAM is President of James Lam & Associates, an independent risk advisory firm. Before starting his own firm, Lam was founder and president of ERisk and partner of Oliver, Wyman & Company. In 1997, as chief risk officer at Fidelity Investments, he was named the first-ever Financial Risk Manager of the Year by the Global Association of Risk Professionals. Prior to Fidelity, he was chief risk officer of Capital Markets Services, Inc., a GE Capital Company. Lam graduated with honors from Baruch College and received his MBA from UCLA. He is also currently an Adjunct Professor of Finance at Babson College.
Customer Reviews:
Great for the novice Risk Manager.......2006-07-27
If you are a budding Risk Manager/ Officer or are considering a career move towards Risk Management, this book is a good high-level illustration of what the major sleeves of Risk Management has to offer.
For the experienced risk professional, this is a bit too fundamental.
This book is a must read for all mid-level and executive level managers.......2005-09-21
James Lam has written a remarkably clear and relevant portrayal of how [enterprise] risk management can be used to deliver real value in any business.
During the past year, I developed a course for the Executive MBA program at Villanova University. After reviewing several books on the subject, I chose this one because of its clear and comprehensive coverage of the subject matter.
I would highly recommend this book to anyone with a serious interest in understanding risk management from a holistic perspective. This includes risk professionals as well as those involved in line and staff functions.
Remarkably Succinct Coverage of a Hot New Topic.......2005-02-04
You bought Jorion, Pearson, and Hull; you slammed headfirst into the quantitative quagmire of risk management, and you may even have passed the Financial Risk Manager exam, sponsored by the Global Association of Risk Professionals, but are you prepared to become your company's "Risk Champion?" Can you explain to laymen why loss distributions are not normal? Can you illustrate the "sweet spot" in the profit/risk tradeoff? If you aren't quite there yet, pick up James Lam's new book, Enterprise Risk Management, From Incentives to Controls. It's a book you can read on the five hour flight from New York to Los Angeles, and its melodies will linger in your memory. This book has changed the way I communicate with people both in and outside the risk management profession. Read it with a highlighter in your hand, and keep the book within easy reach.
A well written and thought out book on Risk Management.......2004-10-05
This book provides practical and insightful look at risk management and how it can benefit companies. Reading and understanding this book should be a pre-requisite for any person going to take on management position.
A Must Read for Risk Management.......2004-08-23
This book is not only about the theory of enterprise risk management, but also a summary of the author¡¯s experience in practicing risk management for more than twenty years. And what is more, there are several case studies that are deeply analyzed in the book. It is because of this that I think it is an excellent work on enterprise risk management. In addition, it is interesting that the Balance of the Yin and Yang in the Chinese traditional philosophy is applied as Lesson 7 by the author. It is a must read for all business managers and students who want to pursue a career in risk management.
Book Description
This updated edition of John W. Cones’s now classic guide to independent film financing includes a discussion of new federal laws. Focusing on feature films, the comprehensive guide is also relevant to projects such as short films, documentaries, videos, multimedia presentations, and theatrical endeavors.
Customer Reviews:
A resource for producers new and old.......2000-06-09
How helpful this book is depends on how "green" you are about the film industry. Those with little to no knowledge about film production will find the book resourceful, informative and very "to-the-point" about the different types of financing available. The advantage/disadvantage sections are especially concise--it's always good to see both sides when it comes to deals potentially worth millions. The "further reading" sections at the end of chapter are also handy, if you want to do extra research on your own.
For those who are experienced film producers (or even those who have finished rigorous film producing and/or entertainment business academic programs, such as myself), the information may repeat many things you already know. Many of the strategies in this book I've learned about in producing classes and film financing seminars--and I'm just starting my career. So I'm sure that some seasoned producers may think this book is reinventing the wheel. However, I did think that the sections dealing with the different securities and corporation options were very informative as far as how they impact your tax status, the difference between active and passive investors, how your autonomy as a filmmaker/producer may be affected, etc. It breaks down a lot of tax legalese into layman's terms.
Overall, I recommend the book--as a primer for new producers and students, and as a great reference guide to those with experience.
Book Description
Market Models provides an authoritative and up-to-date treatment of the use of market data to develop models for financial analysis. Written by a leading figure in the field of financial data analysis, this book is the first of its kind to address the vital techniques required for model selection and development. Model developers are faced with many decisions, about the pricing, the data, the statistical methodology and the calibration and testing of the model prior to implementation. It is important to make the right choices and Carol Alexander's clear exposition provides valuable insights at every stage.
In each of the 13 Chapters, Market Models presents real world illustrations to motivate theoretical developments. The accompanying CD contains spreadsheets with data and programs; this enables you to implement and adapt many of the examples. The pricing of options using normal mixture density functions to model returns; the use of Monte Carlo simulation to calculate the VaR of an options portfolio; modifying the covariance VaR to allow for fat-tailed P&L distributions; the calculation of implied, EWMA and 'historic' volatilities; GARCH volatility term structure forecasting; principal components analysis; and many more are all included.
Carol Alexander brings many new insights to the pricing and hedging of options with her understanding of volatility and correlation, and the uncertainty which surrounds these key determinants of option portfolio risk. Modelling the market risk of portfolios is covered where the main focus is on a linear algebraic approach; the covariance matrix and principal component analysis are developed as key tools for the analysis of financial systems. The traditional time series econometric approach is also explained with coverage ranging from the application cointegration to long-short equity hedge funds, to high-frequency data prediction using neural networks and nearest neighbour algorithms.
Throughout this text the emphasis is on understanding concepts and implementing solutions. It has been designed to be accessible to a very wide audience: the coverage is comprehensive and complete and the technical appendix makes the book largely self-contained.
Market Models: A Guide to Financial Data Analysis is the ideal reference for all those involved in market risk measurement, quantitative trading and investment analysis.
Customer Reviews:
Very shallow.......2005-03-11
You can google in 10 minutes more relevant information than this book is able to provide. It's OK if you need to pick up some terminology and get a rough idea of what it all means before an interview. Totally useless if you need it for work.
Comprehensive, lack in depth and poor organization.......2005-01-23
For a starter, this book does offer a broad spectrum of subjects, volatility/variance measurement, PCAs, Factor Models, Time Series analysis, high frequency data modeling, etc, at the expense of rigor and depth.
Desipite the academic pedigree the author enjoys and the educational career she had, the book is rather poorly organized from a pedagogical point of view. She seems to have a tendency to refer to expressions, notions, ideas, data which appear much later than where the reference takes place. This makes first-timers cringe as they go through the chapters as they are laid out. It reads much like some published papers got dumbed down, and bundled together.
If you are looking for comprehensive introduction, without the gory details of mathematical mumblejumble, this book might be of help. But it may not be used as a reference book, for its organization and for its lack of rigor.
Worth the money.......2003-08-28
If you are looking for detailed rigorous mathematical development then look elsewhere, that is not the reason to purchase this book. It is targeted towards application and there it excels. I have not seen any other book on this topic that so effectively presents a level-headed applied approach that keeps the basic assumptions of the models firmly in sight.
What tool fits when is nicely discussed.
Nice book.......2003-06-21
I will consider this book as a good introduction to different ways to analyze market data (covering mainly equity but do touch on fixed income as well as currency). I would emphasize that the book model the market more from an empirical point of view. The author gives a good description of the GARCH model as well as PCA analysis. Being a fixed income derivatives trading, I find both sections particularly useful for real world trading. The risk modeling section should expand into topics other than VAR such as coherent risk measures which are more useful. The co-integration section is a must for any traders who want to trade mean-reversion or stats arbitrage.
Overall, I think that the book covers all basic to intermediate mathematics, econometrics and finance necessary for anyone who wants to model market data. The book explains how to use such model for trading, risk management as well as market data visualization / understanding.
Nice book.......2003-06-21
I will consider this book as a good introduction to different ways to analyze market data (covering mainly equity but do touch on fixed income as well as currency). I would emphasize that the book model the market more from an empirical point of view. The author gives a good description of the GARCH model as well as PCA analysis. Being a fixed income derivatives trading, I find both sections particularly useful for real world trading. The risk modeling section should expand into topics other than VAR such as coherent risk measures which are more useful. The co-integration section is a must for any traders who want to trade mean-reversion or stats arbitrage.
Overall, I think that the book covers all basic to intermediate mathematics, econometrics and finance necessary for anyone who wants to model market data. The book explains how to use such model for trading, risk management as well as market data visualization / understanding.
Book Description
Analysis of Financial Management 7e is a paperback text and has been written to present standard techniques and modern developments in a practical and intuitive manner. It is intended for non-financial managers and business students interested in the practice of financial management. Emphasis is on the managerial applications of financial analysis.
Customer Reviews:
Check for the version number.......2007-06-27
Beware which version is purchased! I purchased a "new" copy of version 4. (The version number was not advertised.) The current version number is 8 and it appears to be only available from the current publisher, McGraw Hill as an $85- paperback. If you are not taking a class the older version may be ok but I am in a class.
The CURRENT VERSION IS 8
One of the best books on financial analysis.......2007-01-04
I am in the financial services field and a self learner, too. I wanted this book for my business library and to help me brush up on financial analysis. This book did not disappoint me. It is very well written, although I would recommend a newer edition.
Excellent introductory book on Analysis for FM.......2006-04-08
It is one of the best books I have ever used for course reference. One of the reviewers (on the back cover) taught me the Corporate Finance course at HBS with this book as the reference text and it was a great learning experience. I also find this book as a great reference material for my CFA exam. Can't wait to get my hands on the next edition.
an excellent introductory text.......2006-01-04
Unlike most textbooks the book by Higgins can actually be an engaging read. It doesn't get into too many technical details on any of the subject matters covered, but includes some interesting sections that I haven't found in other general (and much heavier) financial management books. For instance, I liked the appendix on the venture capital method of valuation and the explanation on how venture capitalists arrive at a required percentage ownership given multiple rounds of financing.
It was used as a background text for a case study course that I took as part of an MS in finance program and I believe most of us enjoyed it..
Great introduction to Finance.......2005-11-20
Great book for my introduction to finance. This is what the professor in my MBA program used. The book is easy to read and the author has a self-deprecating sense of humor to boot.
Average customer rating:
- modelling financial instruments
- good analysis on data error.
- From the experts in the field
- For the new millenium...that's what we need.
- More Than An Introduction
|
An Introduction to High-Frequency Finance
Ramazan Gençay ,
Michel Dacorogna ,
Ulrich A. Muller ,
Olivier Pictet , and
Richard Olsen
Manufacturer: Academic Press
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Binding: Hardcover
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Analysis of Financial Time Series, 2nd Edition (Wiley Series in Probability and Statistics)
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ASIN: 0122796713 |
Book Description
Liquid markets generate hundreds or thousands of ticks (the minimum change in price a security can have, either up or down) every business day. Data vendors such as Reuters transmit more than 275,000 prices per day for foreign exchange spot rates alone. Thus, high-frequency data can be a fundamental object of study, as traders make decisions by observing high-frequency or tick-by-tick data. Yet most studies published in financial literature deal with low frequency, regularly spaced data. For a variety of reasons, high-frequency data are becoming a way for understanding market microstructure. This book discusses the best mathematical models and tools for dealing with such vast amounts of data.
This book provides a framework for the analysis, modeling, and inference of high frequency financial time series. With particular emphasis on foreign exchange markets, as well as currency, interest rate, and bond futures markets, this unified view of high frequency time series methods investigates the price formation process and concludes by reviewing techniques for constructing systematic trading models for financial assets.
Customer Reviews:
modelling financial instruments.......2007-03-08
The book gives an indepth statistical modelling of important financial events, that have time dependency. It is suitable for the financial analyst who wants a semi-empirical approach.
For some quantities, like foreign exchange data, there is a comparison between fully empirical results and various theoretical models. What is investigated are such behaviours like scaling laws, for the absolute returns as a function of frequency. Here, it has been empirically observed that scalings do exist for FX rates.
Whenever possible, the book gives rigorous results, often encapsulated in theorems relating to distributions of independently distributed random variables. The reader should have a background in statistics, with the equivalent of several years of undergraduate courses.
good analysis on data error........2007-01-16
Many type of error the book list are frequently occur in FX data.
This book give good guide on how to filter them.
From the experts in the field.......2002-06-06
Michel Dacorogna and the team at the former Olsen & Associates are well-known experts in the field of foreign exchange rate data analysis, and their book provides us with a vast, useful source of information. Unfortunately for students and other beginners, the book is written like a compilation of papers and review articles, the opposite of pedagogical, and with an awful choice of 'computerese' notation (MA(t,n)=sum(EMA(t',k)... etc) that makes Boudhaud-Potters look easy in comparison. More to the point, even their noncomputerese notation is difficult to follow. I hope for a very different second edition written pedagogically for students of this growing and important field. On the positive side, data analyses are performed using logarithmic returns, not price increments. Workers in the field who consult this text will find it helpful.
For the new millenium...that's what we need........2001-07-23
The book covers a wide range of topics related to high-frequency data in Finance. There is a very detailed approach to tackle a huge amount of data and to deal with its based stylized facts. The book triggers the reader's desire to update his knowledge in the field of finance.
More Than An Introduction.......2001-05-28
This one of the few books on high frequency finance is a most welcome to the literature. The book is useful not only for people who are new to the subject but also for researchers in the field since it is a most uniform treatment of many topics. From adaptive data cleaning (chapter 4) to intraday and weekly seasonality (chapter 6) and real time trading models (chapter 11), it covers a broad range of topics specific to high frequency financial time series analysis. Chapters on volatility modeling (Chapter 8), forecasting (chapter 9) and correlation and multivariate risk (chapter 10) are enlightening especially for risk exposure analysis and risk management purposes. Finally, the the extensive bibliography is a precious source for those who would like to explore certain topics in detail. I highly recommend it for practitioners as well as researchers in the field.
Book Description
Now you can apply the techniques that business analysts at leading companies use to analyze and transform data into bottom line results. For more than 10 years, well-known consultant and business professor Wayne Winston has been teaching corporate clients and MBA candidates the most effective ways to use Microsoft Excel for data analysis, modeling, and decision making. This practical, business-focused guide delivers the best of Winston's classroom experience to you in 70+ concise chapters, organized by real-world scenarios. Quickly find and apply exactly the information you need to solve a specific business problem#151;from asset allocation modeling to estimating exponential growth, forecasting sales, optimizing portfolios, and other critical functions. You also get all the book's sample files on CD-ROM#151;ready for use in your own work.
Customer Reviews:
Great Book.......2007-07-21
Excellent...It really help me to better understand the data analysis with many differents case scenarios...exercises...its for everyone.
Real Good for a textbook........2007-05-12
I had to use for a college class, but great speed in shipping.
Not bad, but not as good as expected.......2007-04-13
I am an intermediate to advanced Excel user, so my review may reflect that level. As others have said, it looks like MS rushed this book to the market, evidenced by so many errata, which can be disappointing especially when the solution is wrong. On the other hand, there are some very interesting and genuine uses of various Excel functions to solve business problems.
I wouldn't recommend this book for beginners. If you're trying to learn Excel, this is not the book. It is not a book to teach excel, but a book to teach you what you can do with Excel to solve everyday problems, given you're familiar with the mechanics of excel.
I would recommend it with these caveats. And getting Walkenbach's book on Excel functions along with this would be very helpful in my opinion. Best of luck in your endeavors.
Excellent.......2007-04-11
I have read many books in excel, but this book is really the most beneficial and excellent book I've used in my life. It is full with practical not theoritical examples. and you can benefit form it in your work.
Very practical, but full of errors.......2007-04-02
Overall, I like this book, even though it is somewhat confusing, both in scope and in the target audience.
The techniques of "naming the range" or writing the "if" formula are certainly targeted for beginners, but most of statistical tools are normally used by more advanced users.
The worst thing, though, is that the book is full of errors, both typos and mistakes in problem solutions on the disk. I consider myself an intermediate user, so finding an error in "instructor solution" was more like an additional challenge for me, but for the beginner this could be very frustrating.
On the positive side - I really liked the idea of problems in the end of each chapter; so many books just give you the theory and then you do not know how to solve a real life problem. For most of chapters, I knew the tools, but still had to spend time figuring out the best way to implement it for problem solving.
Very practical book, good for an intermediate users. Just be aware of the typos !
Book Description
Financial experts agree: Asset allocation is the key strategies for maintaining a consistent yet superior rate of investment return. Now, Roger Gibson's Asset Allocation - the bestselling reference book on this popular subject for a decade has been updated to keep pace with the latest developments and findings. This Third Edition provides step-by-step strategies for implementing asset allocation in a high return/low risk portfolio, educating financial planning clients on the solid logic behind asset allocation, and more.
Customer Reviews:
Asset Allocation: Balancing Financial Risk.......2007-07-11
Good overview. Perhaps a little technical. Graph oriented. Author does a good job of explaining his view point and backing it up with historical data.
asset allocation by gibson.......2007-05-24
The book was in excellent condition and was received in about five days.
Most solid advice on asset allocation ever.......2007-01-28
I had to read this book when I was taking a course to get a CIMA designation. I thought the book would be dullsville. But to the contrary, his strategies when tested are nothing short of amazing. To move away from the simple stock bond mix that every other book pimps out, is brave, but more importantly, he is right. Since reading the book I have obtained as many of his writings as possible. If you take the advice in this book and implement it, it will create a low stress, high return strategy. Good near term and long term advice. I will look to by more of this book to give to others. BEST BOOK ON ASSET ALLOCATION I HAVE EVER READ.
Gibson's Asset Allocation.......2006-08-23
Among the many books on this subject, this is one of the best. Unlike most of the other authors, Gibson does not limit himself to list the different asset classes and then provide recommended allocations. He goes one step further and describes in very practical terms the different issues that one faces when developing a portfolio and how to resolve them. In my view, Gibson ranks next to Bernstein and Malkiel. A good buy!
Asset allocation practically eliminates all risk while increasing returns........2005-07-01
This book informs the current political struggle to reform the Social Security program. In the case of a foreign invasion or some other calamity, it's true that one's private investments would be insecure, but so would one's "investments" in government bonds, so such cases are irrelevant.
In all relevant circumstances, private investments, if one adheres to even a primitive asset allocation strategy, are 100-percent safe. Mr. Gibson explains why.
He also cites studies concluding that the most significant variable in differences among institutional investor performance is emphasis on stock-picking and market-timing versus asset allocation. Those who emphasize asset allocation perform better than those who emphasize stock-picking and market-timing. A good companion to this book is "A Random Walk Down Wall Street", by Burton G. Malkiel.
Of course, Mr. Gibson introduces the reader to the theory and methods of asset allocation.
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