Hugues Langlois, Jacques Lussier
Columbia Business School Publishing
Many investors believe that success in investing is either clairvoyance or luck. In Rational Investing: The Subtleties of Asset Management (PDF); asset manager Jacques Lussier and finance professor Hugues Langlois present the current state of asset management and explain the conundrum of luck versus skill. The heart of Rational Investing is a framework for smart investing constructed around three performance drivers: efficiently diversifying bad luck; balancing exposure to risk factors; and taking advantage of relative mispricings in financial markets. With strong examples from model multi-asset-class portfolios; Lussier and Langlois show how to apply performance drivers like institutional investors with access to extensive resources; and also nonprofessional investors who are restricted to small-scale transactions. There are few investment products; whether alternative or traditional; discretionary or systematic; quantitative or fundamental; whose performance cannot be analyzed through this framework. Lussier and Langlois clarify the structure of financial markets and the mechanism of sustainable investing so any financier can become a rational player; from the nonprofessional investor with a fundamental knowledge of statistics all the way to seasoned investment professionals wishing to test their understanding of the asset management industry.
“Strongly based on a solid study and clearly written; this important ebook is a great way to invest a day in snowballing your investment success.” — Charles D. Ellis; author; The Index Revolution and Winning the Loser’s Game
“With useful and clear examples; the ebook adopts a big picture approach that can be applied to numerous types of assets….a great resource for any investor looking to improve his or her investment performance.” — Choice
NOTE: The product only includes the ebook Rational Investing: The Subtleties of Asset Management in original ePub. A converted PDF is available on request. No access codes are included.