Book description
A feasible asset allocation framework for the post 2008 financial world
Asset allocation has long been a cornerstone of prudent investment
management; however, traditional allocation plans failed investors
miserably in 2008. Asset allocation still remains an essential part of
the investment arena, and through a new approach, you'll discover how
to make it work.
In The New Science of Asset Allocation, authors Thomas
Schneeweis, Garry Crowder, and Hossein Kazemi first explore the myths
that plague this field then quickly move on to examine how the
practice of asset allocation has failed in recent years. They then
propose new allocation models that employ liquidity, transparency, and
real risk controls across multiple asset classes.
- Outlines a new approach to asset allocation in a post-2008
world, where risk seems hidden
- The "great manager" problem is examined with solutions
on how to capture manager alpha while limiting downside risk
- A complete case study is presented that allocates for beta and alpha
Written by an experienced team of industry leaders and academic
experts, The New Science of Asset Allocation explains how you
can effectively apply this approach to a financial world that
continues to change.
Thomas Schneeweis, PhD, is the Michael and Cheryl
Philipp Professor of Finance at the University of Massachusetts,
Amherst and is the founding director of the Center for International
Securities and Derivatives Markets. He is also the founding editor of
the Journal of Alternative Investments, cofounder of the
Chartered Alternative Investment Analyst Association, and a founding
Director of the Institute for Global Asset and Risk Management. During
his almost forty years of investment management experience, he has
been associated with the development of alpha transfer and fund
replication products, the creation and development of the Zurich Hedge
Fund Indices and the Dow Jones Hedge Fund Benchmark Series, as well as
being instrumental in the creation of the Bache Commodity Index.
Schneeweis publishes widely in the area of investment management and
is often quoted in the financial press.
Garry B. Crowder, JD, MBA, is a noted expert in the
development and creation of multi-asset portfolio solutions and
products. He has designed and implemented asset allocation solutions
for leading multinational banks, insurance companies, and family
offices. Crowder created and was managing partner of one of the first
and largest hedge fund platforms based on managed accounts. In this
capacity, he formed and led the team that created the Zurich Hedge
Fund Indices and the Dow Jones Hedge Fund Benchmark Series. With over
twenty years of investment experience, he is a founding Director of
the Institute for Global Asset and Risk Management and has also served
in managing director positions at Morgan Stanley Asset Management and
Tiger Management LLC.
Hossein Kazemi, PhD, CFA, is regarded as a leader in the area
of asset allocation, and has published over thirty academic and
practitioner articles in the area of asset pricing and asset
allocation. He is a founding partner of Alternative Investment
Analytics, LLC, and White Bear Partners, LLC. Kazemi is a professor of
finance at the University of Massachusetts, Amherst and is the
Associate Director of the Center for International Securities and
Derivatives Markets. He is the current Program Director of the
Chartered Alternative Analyst Investment Association.
