Unconventional Success A Fundamental Approach to Personal Investment

Name: Unconventional Success A Fundamental Approach to Personal Investment
Availability: InStock
ISBN: 9780743228381

ISBN-10: 0743228383

ISBN-13: 9780743228381

Edition: 2005

Authors: David F. Swensen

List price: $32.00

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Description:

The bestselling author of "Pioneering Portfolio Management," the definitive template for institutional fund management, returns with a book that shows individual investors how to manage their financial assets. In "Unconventional Success," investment legend David F. Swensen offers incontrovertible evidence that the for-profit mutual-fund industry consistently fails the average investor. From excessive management fees to the frequent "churning" of portfolios, the relentless pursuit of profits by mutual-fund management companies harms individual clients. Perhaps most destructive of all are the hidden schemes that limit investor choice and reduce returns, including "pay-to-play"…

Book details

List price: $32.00
Copyright year: 2005
Publisher: Free Press
Publication date: 8/9/2005
Binding: Hardcover
Pages: 416
Size: 6.13" wide x 9.25" long x 1.20" tall
Weight: 1.606
Language: English

David F. Swensen is the chief investment officer of Yale University and the bestselling author of Pioneering Portfolio Management. He serves on the boards of TIAA, The Brookings Institution, Carnegie Institution, and Hopkins School. At Yale, where he produced an unparalleled two-decade investment record of 16.1 percent-per-annum returns, he teaches economics classes at Yale College and finance classes at Yale#185;s School of Management. Mr. Swensen lives in New Haven, Connecticut.



Preface


Introduction


Overview



Sources of Return



Asset Allocation


Introduction



Core Asset Classes



Portfolio Construction



Non-Core Asset Classes



Market Timing


Introduction



Chasing Performance



Rebalancing



Security Selection


Introduction



The Performance Deficit of Mutual Funds



Obvious Sources of Mutual-Fund Failure



Hidden Causes of Poor Mutual-Fund Performance



Winning the Active-Management Game



The Exchange-Traded Fund Alternative


Afterword



Failure of For-Profit Mutual Funds



Measuring Investment Gains and Losses



The Arnott, Berkin, and Ye Study of Mutual-Fund Returns


Notes


Index