In recent years portfolio optimization and construction methodologies have become an increasingly critical ingredient of asset and fund management, while at the same time portfolio risk assessment has become an essential ingredient in risk management, and this trend will only accelerate in the coming years. Unfortunately there is a large gap between the limited treatment of portfolio construction methods that are presented in most university courses with relatively little hands-on experience and limited computing tools, and the rich and varied aspects of portfolio construction that are used in practice in the finance industry. Current practice demands the use of modern methods of portfolio construction that go well beyond the classical Markowitz mean-variance optimality theory and require the use of powerful scalable numerical optimization methods. This book fills the gap between current university instruction and current industry practice by providing a comprehensive computationally-oriented treatment of modern portfolio optimization and construction methods. The computational aspect of the book is based on extensive use of S-PlusA(R), the S+NuOPTa"[ optimization module, the S-Plus Robust Library and the S]Bayesa"[ Library, along with about 100 S-Plus scripts and some CRSPA(R) sample data sets of stock returns. A special time-limited version of the S-Plus software is available to purchasers of this book.

a oeFor money managers and investment professionals in the field, optimization is truly a can of worms rather left un-opened, until now! Here lies a thorough explanation of almost all possibilities one can think of for portfolio optimization, complete with error estimationtechniques and explanation of when non-normality plays a part. A highly recommended and practical handbook for the consummate professional and student alike!a

Steven P. Greiner, Ph.D., Chief Large Cap Quant & Fundamental Research Manager, Harris Investment Management

a oeThe authors take a huge step in the long struggle to establish applied post-modern portfolio theory. The optimization and statistical techniques generalize the normal linear model to include robustness, non-normality, and semi-conjugate Bayesian analysis via MCMC. The techniques are very clearly demonstrated by the extensive use and tight integration of S-Plus software. Their book should be an enormous help to students and practitioners trying to move beyond traditional modern portfolio theory.a

Peter Knez, CIO, Global Head of Fixed Income, Barclays Global Investors

a oeWith regard to static portfolio optimization, the book gives a good survey on the development from the basic Markowitz approach to state of the art models and is in particular valuable for direct use in practice or for lectures combined with practical exercises.a

Short Book Reviews of the International Statistical Institute, December 2005

This book provides the much-needed, no-nonsense guidance crucial for project managers - that is, the type of guidance that is missing from every major body of knowledge and educational offering for working project managers. This very practical book identifies the activities that influence project success and focuses the limited time and energy available towards just those activities. The Project Management Institute (PMI) and most literature on project management discusses all aspects of project management under the assumption that project managers will narrow down focus because they cannot be expected to use every process outlined by PMI to manage every project. This book uses the concept of "hacking" our standard conventions of project management and outlines a standard path identified by conventional wisdom, an evil path that project managers frequently resort to under time/quality pressures, and a hacker path that provides a better way to look at the challenge. This book equips project managers with streamlined approaches to refocus their efforts on factors that matter while spending less time doing it. Project management is a demanding discipline with a growing body of knowledge with few instructions on how to do it all. The author provides humorous anecdotes and examples while teaching readers how to save time, improve quality, and advance their career. The primary sections of the book cover how to approach the most common certifications in project management; continuing education; leading project teams; initiating, planning, executing, monitoring, and controlling projects; general life skills; and taking on additional responsibilities. Hacking project management is about focusing the limited bandwidth a project manager can give a project towards the activities that drive success.

This book provides the much-needed, no-nonsense guidance crucial for project managers - that is, the type of guidance that is missing from every major body of knowledge and educational offering for working project managers. This very practical book identifies the activities that influence project success and focuses the limited time and energy available towards just those activities. The Project Management Institute (PMI) and most literature on project management discusses all aspects of project management under the assumption that project managers will narrow down focus because they cannot be expected to use every process outlined by PMI to manage every project. This book uses the concept of "hacking" our standard conventions of project management and outlines a standard path identified by conventional wisdom, an evil path that project managers frequently resort to under time/quality pressures, and a hacker path that provides a better way to look at the challenge. This book equips project managers with streamlined approaches to refocus their efforts on factors that matter while spending less time doing it. Project management is a demanding discipline with a growing body of knowledge with few instructions on how to do it all. The author provides humorous anecdotes and examples while teaching readers how to save time, improve quality, and advance their career. The primary sections of the book cover how to approach the most common certifications in project management; continuing education; leading project teams; initiating, planning, executing, monitoring, and controlling projects; general life skills; and taking on additional responsibilities. Hacking project management is about focusing the limited bandwidth a project manager can give a project towards the activities that drive success.

In recent years portfolio optimization and construction methodologies have become an increasingly critical ingredient of asset and fund management, while at the same time portfolio risk assessment has become an essential ingredient in risk management. This trend will only accelerate in the coming years. This practical handbook fills the gap between current university instruction and current industry practice. It provides a comprehensive computationally-oriented treatment of modern portfolio optimization and construction methods using the powerful NUOPT for S-PLUS optimizer.

She ate, drank, and slept his essence, while he hid behind monastic walls. A tough, handsome mystic is swept, by a liar with a camera, toward a passion he tries to deny. An epistolary novel, told in verse, prose, and image, "Roses of Crimson Fire" is a story to curl up with.

A stressed executive (Steve Martin) and a bluff travelling salesman (John Candy) form an uneasy alliance when their plane is grounded due to bad weather. Candy offers to share a hotel room with Martin while they wait for the storm to subside, and Martin accepts. But from this point on the two seem to be stuck with each other, as they come up against a series of unlikely obstacles which continually and comically frustrate their attempts to get home for Thanksgiving.