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The Portable MBA in Investment

ISBN: 978-0-471-10661-6

November 1995

448 pages

Description
The Portable MBA in Investment

Edited by Peter L. Bernstein

a state-of-the-art program in investment principles andapplications from top-flight professionals

"Peter Bernstein and his Dream Team tackle the entire investmentspectrum--from soup to nuts--and emerge triumphant. Must readingfor all investors--even those who already have their MBAs." --JackR. Meyer, President and CEO Harvard Management Company, Inc.

"This book provides a treasure chest for the serious student ofinvestment." --William Reichenstein, Power Chair in InvestmentManagement Baylor University

"This is an indispensable resource for anyone who is serious aboutinvesting. The lucid and insightful contributions by highlyrespected experts successfully blend theory with practice."--Claude Erb, Managing Editor First Chicago Investment ManagementCompany

"Peter Bernstein has uniquely facilitated a revolution ininvestment thinking and practice over the last several decades.Students of investing everywhere are fortunate to have such auseful guide to some of the best practices in use today by theprofessional investment industry." --Patricia C. Dunn, ManagingDirector and CEO Defined Benefit Group

"This book is an excellent addition to the investment bookshelf.It's long on substance, as readers of Peter Bernstein have come toexpect of his work." --Charles Froland, Managing Director StanfordInvestment Management Company

Once upon a time, Wall Street lived off nice little homilies like"buy low and sell high" and "don't put all your eggs in onebasket." But investors can no longer depend on such well-wornproverbs.

Today, the winners on Wall Street employ a body of theory thattransforms logic, psychology, and statistical sophistication into apowerful package of systematic principles for successful investing.This body of theory is the investor's survival kit in a financialworld flooded with information, novel strategies, and dazzlingfinancial instruments.

The Portable MBA in Investment is a comprehensive guide toinvesting in today's world of finance, with emphasis on convertingtheoretical concepts into profitable applications. Edited by PeterL. Bernstein, one of the most knowledgeable and respected names infinance, The Portable MBA in Investment is ideal for seriousinvestors, people with fiduciary responsibilities, businessmanagers, professionals, and students pursuing investmentcareers.

The book brings together an all-star team of experienced investmentprofessionals and leading academics. Their lucid and authoritativecontributions explain the state-of-the-art approach to everythingfrom setting objectives and choosing strategies to assetallocation, valuation, risk management, tax considerations, andperformance measurement.

In his introduction, Peter Bernstein states, "The essence ofinvestment theory is that being smart is not a sufficient conditionfor being rich. This book is about the missing ingredients." ThePortable MBA in Investment enables you to experience top-levelinstruction on investment principles at your own pace--without thetime and expense of an MBA program.

OTHER SERIES TITLES:

The New Portable MBA

The Portable MBA in Marketing

The Portable MBA in Finance and Accounting

The Portable MBA in Management

The Portable MBA Desk Reference

The Portable MBA in Entrepreneurship
About the Author
About the editor: PETER L. BERNSTEIN is the author of thebestselling Capital Ideas: The Improbable Origins of Modern WallStreet and founding editor of The Journal of Portfolio Management.He is president of Peter L. Bernstein Inc., an economic consultancyto institutional investors and corporations. He managed billions ofdollars for individuals and institutions for over 20 years. Aformer member of the research staff of the Federal Reserve Bank ofNew York, Mr. Bernstein has taught in the graduate program of TheNew School in Manhattan, and has lectured widely throughout theUnited States and abroad.

Among the expert contributors:

Robert Arnott, CFA, President, First Quadrant Corporation, andcoeditor of Active Asset Management.

Gary Brinson, CFA, President of Brinson Partners, Inc., and pastChairman of the Institute of Chartered Financial Analysts.

Donald Chew, Editor of The Journal of Applied Corporate Finance andExecutive Vice President of Stern Stewart & Co., the NewYork-based corporate finance advisory firm.

Roger G. Clarke, CFA and PhD, President of TSA Capital Management,author of Options and Futures: A Tutorial, and coauthor of ManagingCurrency Risks.

Charles D. Ellis, CFA and PhD, Managing Partner of GreenwichAssociates, former Chairman of the Association for InvestmentManagement Research (AIMR), and coauthor of Wall StreetPeople.

Nancy Jacob, PhD, CEO of CTC Consulting, former Dean of the Schoolof Business at the University of Washington, and long-time trusteeof College Retirement Equity Fund.

Robert H. Jeffrey, Chairman of The Jeffrey Company, a majorinvestment fund, and a frequent contributor to investmentjournals.

Michael Jensen, Edsel Bryant Ford Professor of BusinessAdministration at the Harvard Business School and founder of theJournal of Financial Economics.

Mark Kritzman, CFA, a founding partner of Windham CapitalManagement and author of The Portable Financial Analyst.

Terry Marsh, PhD, Associate Professor of Finance, Haas School ofBusiness at the University of California at Berkeley, formerBatterymarch Fellow, and Yamaichi Fellow at the University ofTokyo.