The Economist Guide To Investment Strategy 3rd Edition
How to understand markets, risk, rewards and behaviour
3rd Edition
Published on 23. January 2014
Book
Hardback
384 pages
978-1-78125-071-6 (ISBN)
Description
Supported by numerous charts and detailed analysis, The Economist Guide to Investment Strategy outlines how to construct investment strategies appropriate for individual investors.
It looks at risk and comes with wealth-warnings for those who wish to explore more sophisticated and fashionable investment approaches, and it emphasises the importance of taking into account insights from behavioural analysis as well as the principles of traditional finance. It highlights how habitual patterns of decision-making can lead any of us into costly mistakes, and it stresses how markets are most dangerous when they appear to be most rewarding.
The book is in two parts:
The big picture
Setting the scene - including might I have been suckered by Madoff?
Understanding your behaviour - including why do we rely on lazy shortcuts?
Market investment returns - including who can investors trust to provide a safe haven?
How investor strategies evolve - including what has changed since the financial crisis?
The time horizon and the shape of strategy: keep-it-simple - including are government bonds and some equities all you need?
Implementing more complicated strategies
Setting the scene - including does an illiquid investment mean a premium return?
Equities - including are high returns just a reward for taking more risk ?
Credit - including do changes in credit spreads echo stock market volatility rather than bankruptcy risk?
Hedge funds - including when will investors routinely get decent hedge fund risk statistics?
Private equity - including are excessive fees strangling the goose that laid the golden eggs?
Real estate - including should I buy REITs or bricks and mortar?
Art and investments of passion - including how the Federal Reserve and the internet have boosted prices of fine art and classic cars.
In addition, there is a glossary and other useful appendices.
It looks at risk and comes with wealth-warnings for those who wish to explore more sophisticated and fashionable investment approaches, and it emphasises the importance of taking into account insights from behavioural analysis as well as the principles of traditional finance. It highlights how habitual patterns of decision-making can lead any of us into costly mistakes, and it stresses how markets are most dangerous when they appear to be most rewarding.
The book is in two parts:
The big picture
Setting the scene - including might I have been suckered by Madoff?
Understanding your behaviour - including why do we rely on lazy shortcuts?
Market investment returns - including who can investors trust to provide a safe haven?
How investor strategies evolve - including what has changed since the financial crisis?
The time horizon and the shape of strategy: keep-it-simple - including are government bonds and some equities all you need?
Implementing more complicated strategies
Setting the scene - including does an illiquid investment mean a premium return?
Equities - including are high returns just a reward for taking more risk ?
Credit - including do changes in credit spreads echo stock market volatility rather than bankruptcy risk?
Hedge funds - including when will investors routinely get decent hedge fund risk statistics?
Private equity - including are excessive fees strangling the goose that laid the golden eggs?
Real estate - including should I buy REITs or bricks and mortar?
Art and investments of passion - including how the Federal Reserve and the internet have boosted prices of fine art and classic cars.
In addition, there is a glossary and other useful appendices.
Reviews / Votes
Successfully translates sophisticated academic thinking into simple, intuitive principles that can be used by both individual and institutional investors. These principles are all the more valuable as Stanyer applies them to the full range of asset classes and investment strategies available today. * John Campbell, Morton L. and Carole S. Olshan Professor of Economics, Harvard University * A book that provides welcome light and insight in a world in which the global financial crisis has highlighted the importance of financial education and literacy. * Steve Satchell, Fellow, Trinity College Cambridge * Broad in its overview, filled with recent data and research, and clearly written, this useful guide should appeal to both experienced and new investors. The author delivers relevant, practical advice by deftly discussing both the big picture at the overall portfolio level and the nuances and institutional details at the asset class level. * Andrew Ang, Ann F. Kaplan Professor of Business, Columbia Business School, New York * If you want to understand the key factors in constructing a successful investment strategy that suits you, this book will enable you to make better informed choices. * Mark Ralphs, Partner, Financial Planning Corporation LLC * Over the years I've had the privilege of reviewing many investment books, but this is unquestionably one of the best. Every financial planner, wealth manager, broker, investment adviser and serious individual investor owes it to themselves to carefully read this extraordinary book. * Harold Evensky, President, Evensky & Katz LLC * Stanyer targets both the professional and amateur investor and he does it with an enviably informative, accessible style * European Business * Truly priceless ... does a wonderful job in conveying to readers that it is better to be the tortoise than the hare in the twenty-first century. Search no more, this book is the ultimate guide to understanding all aspects of investment strategy, the markets, risk and behaviour * Greg N. Gregoriou * Provides an interesting explanation of the subject, written in a style appealing to both those seeking to understand investment strategy from a limited knowledge base and to more experienced readers * Securities & Investment Review *More details
Edition
3rd Revised edition
Language
English
Place of publication
London
United Kingdom
Publishing group
Profile Books Ltd
Target group
College/higher education
Professional and scholarly
Edition type
Revised edition
Product notice
Trade binding
Dimensions
Height: 223 mm
Width: 145 mm
Thickness: 34 mm
Weight
573 gr
ISBN-13
978-1-78125-071-6 (9781781250716)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Person
Peter Stanyer is an independent investment economist. He advises a UK private wealth manager and serves on the investment committees of two large UK pension funds and of a college endowment. He was previously chief investment officer of a US-based investment firm, a managing director at Merrill Lynch and investment director of the UK's Railways Pension Fund. He has also worked as an economist for the Bank of England and the IMF, and when at Cambridge University he won the Adam Smith prize for economics.