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CITATION

Darst, David. The Art of Asset Allocation: Principles and Investment Strategies for Any Market, Second Edition. US: McGraw-Hill, 2008.

The Art of Asset Allocation: Principles and Investment Strategies for Any Market, Second Edition

Authors: David Darst

Published:  May 2008

eISBN: 9780071642941 0071642943 | ISBN: 9780071592949
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  • Contents
  • Foreword
  • Preface
  • Section 1 Understanding Asset Allocation
  • Chapter 1 Essentials of Asset Allocation
  • Overview
  • Meanings of Asset Allocation
  • Foundations of Asset Allocation
  • The Risks and Rewards of Asset Allocation
  • Principal-Protection Assets and Principal-Growth Assets
  • The Effects of Inflation on Purchasing Power
  • Chapter 2 The Asset-Allocation Process
  • Overview
  • Matching Asset Classes with Wealth Levels and Income Needs
  • Types of Asset Allocation
  • Intersections of Asset Allocation with Other Disciplines
  • Section 2 The Mechanics of Asset Allocation
  • Chapter 3 Asset-Allocation Tools and Concepts
  • Overview
  • Modern Portfolio Theory/Efficient Market Theory
  • Asset and Portfolio Returns
  • Asset and Portfolio Risk
  • Risk and Return
  • Assets' Returns and Correlations Caveats
  • Asset-Allocation Optimization Models
  • Asset-Allocation Optimization Software
  • Chapter 4 Asset-Allocation Rebalancing
  • Overview
  • Rebalancing Principles
  • Advantages and Disadvantages of Rebalancing
  • Origins and Implications of Asset-Allocation Overweighting
  • Scope of Rebalancing
  • Special Considerations Involving Concentrated Positions
  • Rebalancing Methods
  • Asset-Allocation Drift—No Rebalancing
  • Rebalancing Sensitivity Analysis
  • Critical Success Factors in Rebalancing
  • Section 3 Underpinnings of Asset Allocation
  • Chapter 5 Individual Investor Behavior
  • Overview
  • Factors Affecting Individual Investors' Asset-Allocation Decisions
  • The Evolution of Individual Investors' Asset-Allocation Activity
  • Primary Determinants of Individual Investors' Asset Allocation
  • Strategic and Tactical Principles
  • Individual Investor Behavioral Characteristics
  • Financial Lessons from Market History
  • Insights from Behavioral Finance
  • Section 4 Asset Class Characteristics
  • Chapter 6 Distinguishing Qualities of Asset Classes
  • Overview
  • Asset Supercategories
  • Evaluating Asset Classes
  • Participants within Asset Classes
  • Asset Classes and Subasset Classes
  • Asset Class Descriptions
  • Asset Class Weightings and Uses
  • Chapter 7 Analyzing Assets' Rates of Return
  • Overview
  • Organization of Returns Data
  • Assets' Annual Rates of Return by Groups of Years
  • Assets' Annual Rates of Return by Individual Years
  • Assets' Annual Rates of Return by Economic Environment
  • Rotating Returns Leadership Among Asset Classes
  • Equities Industry Sectors by Individual Years
  • Leading Companies by Equity Market Capitalization
  • Leading U.S. Companies' Rates of Return by Individual Years
  • Section 5 Financial Markets Analysis and Investment Insights
  • Chapter 8 Constructing an Analytical Framework
  • Overview
  • Societal Analysis
  • Market-Cycle Analysis
  • Scenario Analysis
  • Investor Satisfaction Analysis
  • Strategy Implementation Analysis
  • Comparative Financial Analysis
  • Financial Market Climate Analysis
  • Phases and Cycles in Asset Allocation
  • Section 6 Tactics and Strategies
  • Chapter 9 Asset-Allocation Matrices and Worksheets
  • Overview
  • Worksheets in the Asset-Allocation Process
  • Asset-Allocation Worksheets in Context
  • Drawbacks of Asset-Allocation Worksheets
  • Asset-Allocation Guidelines
  • Investors' Asset-Allocation Cycles
  • Sequencing of Market Outcomes
  • Asset-Allocation Matrices
  • Investor Profile Worksheet
  • Investment Outlook Worksheet
  • Investment Universe Worksheet
  • Risk Mitigation Matrices
  • Index