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Do you want to see your wealth grow? If so, then this easy-to-read
guide that focuses on alternative investments - hedge funds,
private equity, real estate, commodities, and infrastructure - is
just for you. The fourth book in The H. Kent Baker Investments
Series attempts to remove some of the mystery surrounding these
investments so that you can determine whether any of these are
right for you. If you're willing to gain the necessary knowledge,
you may be able to build long-term wealth by taking advantage of
the benefits that each investment has to offer. The Savvy
Investor's Guide to Building Wealth Through Alternative Investments
is written for investors familiar with traditional investments but
with limited knowledge of alternative assets and strategies.
Do you only have a relatively small amount of money to invest? Do
you think this limitation give you only a few investment choices?
Well, it doesn't. Investing experts H. Kent Baker, Greg Filbeck,
and Halil Kiymaz offer an essential guide to one of the most common
ways to invest: a pooled investment vehicle (PIV). A PIV is an
investment fund that commingles the monies of many different
investors to buy a portfolio that reflects a particular investment
objective. - By using PIVs, you gain a diversified portfolio, which
once was only available to large investors. The Savvy Investor's
Guide to Pooled Investments clearly explains the risks and
advantages of investing in a PIV. This book introduces you to five
PIVs - mutual funds, exchange-traded funds (ETFs), closed-end funds
(CEFs), unit investment trusts (UITs), and real estate investment
trusts (REITs) - with a unique Q&A format employed to delve
into issues that investors want and need to know before choosing a
PIV. If you have ever felt limited by your investment choices,
Baker, Filbeck, and Kiymaz explain your options to creating an
investment portfolio, which is an initial step to becoming a savvy
investor.
People tend to be penny wise and pound foolish and cry over spilt
milk, even though we are taught to do neither. Focusing on the
present at the expense of the future and basing decisions on lost
value are two mistakes common to decision-making that are
particularly costly in the world of finance. Behavioral Finance:
What Everyone Needs to KnowR provides an overview of common
shortcuts and mistakes people make in managing their finances. It
covers the common cognitive biases or errors that occur when people
are collecting, processing, and interpreting information. These
include emotional biases and the influence of social factors, from
culture to the behavior of one's peers. These effects vary during
one's life, reflecting differences in due to age, experience, and
gender. Among the questions to be addressed are: How did the
financial crisis of 2007-2008 spur understanding human behavior?
What are market anomalies and how do they relate to behavioral
biases? What role does overconfidence play in financial decision-
making? And how does getting older affect risk tolerance?
Working capital refers to the money that a company uses to finance
its daily operations. Proper management of working capital is
critical to financial health and operational success. Working
capital management (WCM) aims to maximize operational efficiency by
maintaining a delicate balance among growth, profitability, and
liquidity. WCM is a continuous responsibility focusing on a firm's
day-to-day operations involving short-term assets and liabilities.
By efficiently managing a firm's cash, accounts receivable,
inventories, and accounts payable, managers can help maintain
smooth operations and improve a company's earnings and
profitability. By contrast, poor WCM could lead to a lower credit
score, financial insolvency, legal troubles, liquidation of assets,
and potential bankruptcy.This book provides an objective look into
the dynamic world of WCM. Its coverage extends from discussing
basic concepts and their applications to increasingly complex and
real-world situations. The book stresses that WCM is a combination
of both art and science. This volume spans the gamut from
theoretical to practical while offering the right balance of
detailed and user-friendly coverage. Readers can gain an in-depth
understanding of this subject from experts in this field. Those who
want a broad survey will benefit, as will readers looking for more
in-depth presentations of specific areas within this field of
study. In summary, Working Capital Management: Concepts and
Strategies provides a fresh look at this intriguing but often
complex subject of WCM.
Mutual Funds and Exchange-Traded Funds: Building Blocks to Wealth
offers a synthesis of the theoretical and empirical literature
primarily on mutual funds but also discusses related investment
vehicles, especially ETFs. In this edited volume, noted scholars
and practitioners write chapters in their areas of expertise. It
interweaves the contributions of multiple authors into an
authoritative overview of important but selective topics. Readers
will gain an in-depth understanding of mutual funds and ETFs from
experts from around the world. Based on research-based evidence,
this is not intended to be a "how to " book; instead, it is a
scholarly and in-depth approach to important investment subjects.
Although the book places greater attention on these different types
of investments in the United States, it also examines them in a
global context. In today's financial environment, mutual funds and
ETFs are dynamic areas that continue to evolve at a rapid pace.
Because the flow of materials on the subject is voluminous, this
book, by necessity, must be selective because it cannot cover every
aspect of this field. However, readers can gain important insights
about each investment vehicle including its structure and uses,
performance and measurement. Beyond these core topics and issues,
the book also examines the latest trends, cutting-edge
developments, and real-world situations. Given its broad scope,
this practical and comprehensive book should appeal to investors,
investment professionals, academics, and others interested in
mutual funds and ETFs. In particular, this book should help
investors make key asset allocation decisions while capturing the
benefits of a highly diversified, well-constructed, lower-cost
portfolio of complementary strategies that enhance financial
wealth.
Portfolio management is an ongoing process of constructing
portfolios that balances an investor's objectives with the
portfolio manager's expectations about the future. This dynamic
process provides the payoff for investors. Portfolio management
evaluates individual assets or investments by their contribution to
the risk and return of an investor's portfolio rather than in
isolation. This is called the portfolio perspective. Thus, by
constructing a diversified portfolio, a portfolio manager can
reduce risk for a given level of expected return, compared to
investing in an individual asset or security. According to modern
portfolio theory (MPT), investors who do not follow a portfolio
perspective bear risk that is not rewarded with greater expected
return. Portfolio diversification works best when financial markets
are operating normally compared to periods of market turmoil such
as the 2007-2008 financial crisis. During periods of turmoil,
correlations tend to increase thus reducing the benefits of
diversification. Portfolio management today emerges as a dynamic
process, which continues to evolve at a rapid pace. The purpose of
Portfolio Theory and Management is to take readers from the
foundations of portfolio management with the contributions of
financial pioneers up to the latest trends emerging within the
context of special topics. The book includes discussions of
portfolio theory and management both before and after the 2007-2008
financial crisis. This volume provides a critical reflection of
what worked and what did not work viewed from the perspective of
the recent financial crisis. Further, the book is not restricted to
the U.S. market but takes a more global focus by highlighting
cross-country differences and practices. This 30-chapter book
consists of seven sections. These chapters are: (1) portfolio
theory and asset pricing, (2) the investment policy statement and
fiduciary duties, (3) asset allocation and portfolio construction,
(4) risk management, (V) portfolio execution, monitoring, and
rebalancing, (6) evaluating and reporting portfolio performance,
and (7) special topics.
All investments carry with them some degree of risk. In the
financial world, individuals, professional money managers,
financial institutions, and many others encounter and must deal
with risk. Risk management is a process of determining what risks
exist in an investment and then handling those risks in the
best-suited way. This is important because it can reduce or augment
risk depending on the goals of investors and portfolio managers.
The main purpose of Investment Risk Management is to provide an
overview of developments in risk management and a synthesis of
research involving these developments. The book examines ways to
alter exposures through measuring and managing those exposures and
provides an understanding of the latest strategies and trends
within risk management. The scope of the coverage is broad and
encompasses the most important aspects of investment risk
management. Its 30 chapters are organized into six sections: (1)
foundations of risk management, (2) types of risk, (3) quantitative
assessment of risk, (4) risk and risk classes, (5) hedging risk and
(6) going forward.
The book should be of particular interest to sophisticated
practitioners, investors, academics, and graduate finance students.
Investment Risk Management provides a fresh look at this intriguing
but complex subject.
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