{"product_id":"the-complete-guide-to-portfolio-performance-appraise-analyze-act-appraise-analyze-act-hardback-9781119930174","title":"The Complete Guide to Portfolio Performance – Appraise, Analyze, Act; Appraise, Analyze, Act (Hardback) 9781119930174","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe Complete Guide to Portfolio Performance – Appraise, Analyze, Act\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eAppraise, Analyze, Act\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eP François (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781119930174, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 2 May 2024\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e1088 pages\u003cbr\u003e24 x 19.7 x 5.9 cm, 1.7 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\u003cb\u003eAn intuitive and effective desk reference for performance measurement in asset and wealth management\u003c\/b\u003e \u003c\/p\u003e\n\u003cp\u003eIn \u003ci\u003eThe Complete Guide to Portfolio Performance: Appraise, Analyse, Act,\u003c\/i\u003e a team of finance professors with extended practical experience deliver a hands-on desk reference for asset and wealth managers suitable for everyday use. Intuitively organized and full of concrete examples of the real-world implementation of the concepts discussed within, the book provides a comprehensive coverage of all important portfolio performance matters across 18 chapters of actionable and clearly described content. The authors have provided relevant cross-referencing where appropriate, “Key Takeaways and Equations” sections at the end of each chapter, and pointers to additional resources for anyone interested in pursuing further research. \u003c\/p\u003e\n\u003cp\u003eYou'll also find: \u003c\/p\u003e\n\u003cul\u003e \u003cli\u003eDiscussions of more than a hundred classical and modern performance measures organized logically and with a focus on their applications\u003c\/li\u003e \u003cli\u003eStrategies for selecting appropriate performance measures based on your situation as a manager or investor\u003c\/li\u003e \u003cli\u003eExplanations of analytical techniques (statistical approaches, attribution, fund ratings...) enabling a comprehensive use of performance-related information\u003c\/li\u003e \u003cli\u003eApplications of portfolio performance criteria in concrete investment decision-making processes\u003c\/li\u003e \u003cli\u003eHighly actionable and logically organized material that's easy to find at a moment's notice\u003c\/li\u003e \u003cli\u003eA full set of pedagogical powerpoint slides and excel worksheets with all data and formulas\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003ePerfect for investors, portfolio managers, advisors, analysts, and regulators, \u003ci\u003eThe Complete Guide to Portfolio Performance\u003c\/i\u003e is also a must-read reference for students and practitioners of asset and wealth management, as well as those pursuing certification such as CFA, CIPM, CIIA, and CAIA.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003ePreface xxvii\u003c\/p\u003e \u003cp\u003eAcknowledgements xxxi\u003c\/p\u003e \u003cp\u003eAbout the Website xxxiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The Scope of Portfolio Performance 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 From Portfolio Management to Portfolio Performance 2\u003c\/p\u003e \u003cp\u003e1.2 Rolling Out the Three Layers of Performance Evaluation 10\u003c\/p\u003e \u003cp\u003e1.3 Returns, Risk, and Benchmarks 17\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 27\u003c\/p\u003e \u003cp\u003eReferences 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Classical Performance Measurement 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Standard Portfolio Theory and the CAPM 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 The Portfolio Allocation Problem 37\u003c\/p\u003e \u003cp\u003e2.2 The Market Portfolio and the Security Market Line 45\u003c\/p\u003e \u003cp\u003e2.3 Implementing the CAPM 53\u003c\/p\u003e \u003cp\u003e2.4 Multifactor Models 64\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 72\u003c\/p\u003e \u003cp\u003eReferences 73\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Classical Portfolio Performance Measures 77\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Peer Group Comparisons 80\u003c\/p\u003e \u003cp\u003e3.2 The Sharpe Ratio 87\u003c\/p\u003e \u003cp\u003e3.3 The Treynor Ratio, Jensen’s Alpha, and the Modified Jensen’s Alpha 100\u003c\/p\u003e \u003cp\u003e3.4 The Information Ratio 114\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 126\u003c\/p\u003e \u003cp\u003eReferences 129\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Selecting a Classical Performance Measure 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Risk and Measurement Dimensions 134\u003c\/p\u003e \u003cp\u003e4.2 Choosing a Measure for the Investor: The Normative Approach 140\u003c\/p\u003e \u003cp\u003e4.3 Choosing a Measure for the Investor: The Positive Approach 154\u003c\/p\u003e \u003cp\u003e4.4 Choosing a Measure for the Manager 167\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 177\u003c\/p\u003e \u003cp\u003eReferences 180\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Pitfalls and Dangers with the Classical Performance Measures 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Issues with the Standard Portfolio Theory Framework 185\u003c\/p\u003e \u003cp\u003e5.2 Issues with the Capital Asset Pricing Model 197\u003c\/p\u003e \u003cp\u003e5.3 Issues with the Sample 210\u003c\/p\u003e \u003cp\u003e5.4 Issues with the Regressions 223\u003c\/p\u003e \u003cp\u003e5.5 Issues with the Interpretations 233\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 247\u003c\/p\u003e \u003cp\u003eReferences 250\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Developments in Performance Measurement 253\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Classical Performance Measures Revisited 255\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Refinements of the Sharpe Ratio 258\u003c\/p\u003e \u003cp\u003e6.2 Alterations of the Sharpe Ratio 276\u003c\/p\u003e \u003cp\u003e6.3 Alternative Versions of the other Classical Performance Measures 297\u003c\/p\u003e \u003cp\u003e6.4 Classical Performance Measures as Risk-Adjusted Returns 305\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 318\u003c\/p\u003e \u003cp\u003eReferences 321\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Performance Measurement in Multifactor Models 325\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Types of Linear Multifactor Models 327\u003c\/p\u003e \u003cp\u003e7.2 The Multifactor Alpha and the Multifactor Modified Alpha 345\u003c\/p\u003e \u003cp\u003e7.3 Other Classical Performance Measures Adapted to Multifactor Models 357\u003c\/p\u003e \u003cp\u003e7.4 Measuring Performance in Special Cases of Multifactor Models 364\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 373\u003c\/p\u003e \u003cp\u003eReferences 376\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Performance Measurement with Market Timing 381\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Piecewise-linear Regression Approach 385\u003c\/p\u003e \u003cp\u003e8.2 Polynomial Regression Approach 400\u003c\/p\u003e \u003cp\u003e8.3 Return-based Dynamic Exposures Approach 414\u003c\/p\u003e \u003cp\u003e8.4 Holding-based Dynamic Exposures Approach 424\u003c\/p\u003e \u003cp\u003e8.5 A Roadmap for Market Timing Performance Appraisal 434\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 440\u003c\/p\u003e \u003cp\u003eReferences 443\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Preference-based Performance for the Standard Investor 447\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 The Structure of the Rational Investor’s Preferences 450\u003c\/p\u003e \u003cp\u003e9.2 Preference-based Performance in the Standard Portfolio Theory 456\u003c\/p\u003e \u003cp\u003e9.3 Performance Measurement with Standard Utility functions 468\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 481\u003c\/p\u003e \u003cp\u003eReferences 484\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Preference-based Performance for the Behavioral Investor 487\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 The Structure of the Behavioral Investor’s Preferences 489\u003c\/p\u003e \u003cp\u003e10.2 Performance Measurement with Behavioral Utility 494\u003c\/p\u003e \u003cp\u003e10.3 Performance as Ratios of Gains Over Losses 504\u003c\/p\u003e \u003cp\u003e10.4 Mental Accounting and Portfolio Performance 519\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 534\u003c\/p\u003e \u003cp\u003eReferences 537\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Analyzing and Monitoring Performance 541\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Navigating the Maze of Portfolio Performance 543\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 The Spectrum of Performance Measurement 544\u003c\/p\u003e \u003cp\u003e11.2 Ariadne’s String Taxonomy 573\u003c\/p\u003e \u003cp\u003e11.3 Analytical Sorting Approaches 581\u003c\/p\u003e \u003cp\u003e11.4 Statistical Sorting Approaches 593\u003c\/p\u003e \u003cp\u003e11.5 Dashboard 603\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 607\u003c\/p\u003e \u003cp\u003eReferences 610\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Performance Design for Specific Asset Classes 613\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12.1 Fixed-Income Portfolio Returns 615\u003c\/p\u003e \u003cp\u003e12.2 Performance Framework for Fixed-Income Portfolios 622\u003c\/p\u003e \u003cp\u003e12.3 Illiquid Alternative Investment Portfolio Returns 635\u003c\/p\u003e \u003cp\u003e12.4 Performance Framework for Hedge Funds 643\u003c\/p\u003e \u003cp\u003e12.5 Performance Framework for Private Equity 650\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 663\u003c\/p\u003e \u003cp\u003eReferences 666\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 The Granular Analysis of Performance 671\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13.1 The Fundamentals of Performance Decomposition 678\u003c\/p\u003e \u003cp\u003e13.2 Attributing Performance 686\u003c\/p\u003e \u003cp\u003e13.3 Decomposing Risk-adjusted Performance Ratios 700\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 714\u003c\/p\u003e \u003cp\u003eReferences 718\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Performance Attribution Methods 719\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14.1 Attribution Analysis for a Single Period 724\u003c\/p\u003e \u003cp\u003e14.2 Multiperiod Attribution Analysis 744\u003c\/p\u003e \u003cp\u003e14.3 Extending the Scope of Attribution Analysis 752\u003c\/p\u003e \u003cp\u003e14.4 Statistical Performance Attribution 774\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 785\u003c\/p\u003e \u003cp\u003eReferences 789\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV Using Performance for Decision-making 791\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Disclosing and Verifying Portfolio Performance 793\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e15.1 The Global Investment Performance Standards 794\u003c\/p\u003e \u003cp\u003e15.2 Communicating Fund Performance Effectively 802\u003c\/p\u003e \u003cp\u003e15.3 Communicating Personal Portfolio Performance Effectively 813\u003c\/p\u003e \u003cp\u003e15.4 Fund Ratings and Portfolio Analytics 818\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 829\u003c\/p\u003e \u003cp\u003eReferences 831\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Applications of Performance in Investment Decisions 835\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e16.1 Using Performance to Determine the Investment Universe 837\u003c\/p\u003e \u003cp\u003e16.2 Using Performance for Portfolio Strategy Design 847\u003c\/p\u003e \u003cp\u003e16.3 Using Performance to Serve Investor Needs 867\u003c\/p\u003e \u003cp\u003e16.4 Reconciling ESG Investments and Performance 886\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 901\u003c\/p\u003e \u003cp\u003eReferences 905\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Performance and Predictability 907\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e17.1 What does Predictability Encompass? 910\u003c\/p\u003e \u003cp\u003e17.2 Absolute Persistence 925\u003c\/p\u003e \u003cp\u003e17.3 Relative Persistence with Recursive Portfolios 944\u003c\/p\u003e \u003cp\u003e17.4 Relative Persistence with Matched Rankings 961\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 972\u003c\/p\u003e \u003cp\u003eReferences 975\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Agency Issues and Illusion of Performance 979\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e18.1 The Standard Agency Framework 980\u003c\/p\u003e \u003cp\u003e18.2 How to Mitigate Agency Conflicts? 986\u003c\/p\u003e \u003cp\u003e18.3 Performance Measurement and Agency Issues 998\u003c\/p\u003e \u003cp\u003e18.4 Designing a Normative Performance Measure 1013\u003c\/p\u003e \u003cp\u003e18.5 The Role of Luck in Performance Measurement 1023\u003c\/p\u003e \u003cp\u003eKey Takeaways and Equations 1029\u003c\/p\u003e \u003cp\u003eReferences 1031\u003c\/p\u003e \u003cp\u003eIndex 1037\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"John Wiley \u0026 Sons","offers":[{"title":"Brand New","offer_id":52656117645592,"sku":"9781119930174","price":59.79,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781119930174.jpg?v=1789176685","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-complete-guide-to-portfolio-performance-appraise-analyze-act-appraise-analyze-act-hardback-9781119930174","provider":"Freshly Printed Books","version":"1.0","type":"link"}