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Produktbild: Portfolio Management in Practice, Volume 3
Band 3

Portfolio Management in Practice, Volume 3 Equity Portfolio Management

Aus der Reihe CFA Institute

Fr. 153.00

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Beschreibung

Discover the latest essential resource on equity portfolio management for students and investment professionals.   Part of the CFA Institute's three-volume Portfolio Management in Practice series, Equity Portfolio Management offers a fuller treatment of active versus passive equity investment strategies....

Beschreibung

Discover the latest essential resource on equity portfolio management for students and investment professionals.
 
Part of the CFA Institute's three-volume Portfolio Management in Practice series, Equity Portfolio Management offers a fuller treatment of active versus passive equity investment strategies. This text outlines key topics in the portfolio management process with clear, concise language to serve as an accessible guide for students and current industry professionals.
 
Building on content in the Investment Management and Equity Valuation volumes in the CFA Institute Investment Series, Equity Portfolio Management provides an in-depth, technical examination of constructing and evaluating active equity methods.
 
This volume explores:
* An overview of passive versus active equity strategies
* Market efficiency underpinnings of passive equity strategies
* Active equity strategies and developing portfolios to reflect active strategies
* Technical analysis as an additional consideration in executing active equity strategies
 
To further enhance your understanding of the tools and techniques covered here, don't forget to pick up the Portfolio Management in Practice, Volume 3: Equity Portfolio Management Workbook. The workbook is the perfect companion resource containing Learning Outcomes, Summary Overview sections, and challenging practice questions that align chapter-by-chapter with the main text.
 
Equity Portfolio Management alongside the other Portfolio Management in Practice volumesdistill the knowledge, skills, and abilities readers need to succeed in today's fast-paced financial world.

Produktdetails

Einband

Gebundene Ausgabe
Erscheinungsdatum

10.11.2020
Verlag John Wiley & Sons Inc
Seitenzahl

496

Produktdetails

Einband

Gebundene Ausgabe
Erscheinungsdatum

10.11.2020
Verlag John Wiley & Sons Inc
Seitenzahl

496
Maße (L/B/H)

25.7/18.5/3.8 cm
Gewicht

1021 g
Auflage

1. Auflage
Sprache

Englisch
ISBN

978-1-119-78925-3
Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: gpsr@libri.de

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  • Produktbild: Portfolio Management in Practice, Volume 3
  • Preface xi
     
    Acknowledgments xiii
     
    About the CFA Institute Investment Series xv
     
    Chapter 1 Overview of Equity Securities 1
     
    Learning Outcomes 1
     
    1. Introduction 1
     
    2. Equity Securities in Global Financial Markets 2
     
    3. Types and Characteristics of Equity Securities 6
     
    3.1. Common Shares 7
     
    3.2. Preference Shares 10
     
    4. Private versus Public Equity Securities 12
     
    5. Investing in Non-Domestic Equity Securities 15
     
    5.1. Direct Investing 17
     
    5.2. Depository Receipts 17
     
    6. Risk and Return Characteristics of Equity Securities 20
     
    6.1. Return Characteristics of Equity Securities 20
     
    5.2. Risk of Equity Securities 22
     
    7. Equity Securities and Company Value 23
     
    7.1. Accounting Return on Equity 23
     
    7.2. The Cost of Equity and Investors' Required Rates of Return 28
     
    Summary 29
     
    References 31
     
    Practice Problems 31
     
    Chapter 2 Market Efficiency 35
     
    Learning Outcomes 35
     
    1. Introduction 35
     
    2. The Concept of Market Efficiency 37
     
    2.1. The Description of Efficient Markets 37
     
    2.2. Market Value versus Intrinsic Value 39
     
    2.4. Transaction Costs and Information-Acquisition Costs 43
     
    3. Forms of Market Efficiency 44
     
    3.1. Weak Form 44
     
    3.2. Semi-Strong Form 45
     
    3.3. Strong Form 48
     
    3.4. Implications of the Efficient Market Hypothesis 48
     
    4. Market Pricing Anomalies 50
     
    4.1. Time-Series Anomalies 51
     
    4.2. Cross-Sectional Anomalies 53
     
    4.3. Other Anomalies 54
     
    4.4. Implications for Investment Strategies 56
     
    5. Behavioral Finance 57
     
    5.1. Loss Aversion 57
     
    5.2. Herding 58
     
    5.3. Overconfidence 58
     
    5.4. Information Cascades 58
     
    5.5. Other Behavioral Biases 59
     
    5.6. Behavioral Finance and Investors 60
     
    5.7. Behavioral Finance and Efficient Markets 60
     
    Summary 60
     
    References 61
     
    Practice Problems 63
     
    Chapter 3 Overview of Equity Portfolio Management 67
     
    Learning Outcomes 67
     
    1. Introduction 67
     
    2. The Roles of Equities in a Portfolio 68
     
    2.1. Capital Appreciation 68
     
    2.2. Dividend Income 69
     
    2.3. Diversification with Other Asset Classes 70
     
    2.4. Hedge Against Inflation 71
     
    2.5. Client Considerations for Equities in a Portfolio 71
     
    3. Equity Investment Universe 73
     
    3.1. Segmentation by Size and Style 73
     
    3.2. Segmentation by Geography 75
     
    3.3. Segmentation by Economic Activity 77
     
    3.4. Segmentation of Equity Indexes and Benchmarks 78
     
    4. Income and Costs in an Equity Portfolio 79
     
    4.1. Dividend Income 79
     
    4.2. Securities Lending Income 80
     
    4.3. Ancillary Investment Strategies 80
     
    4.4. Management Fees 81
     
    4.5. Performance Fees 81
     
    4.6. Administration Fees 82
     
    4.7. Marketing and Distribution Costs 82
     
    4.8. Trading Costs 83
     
    4.9. Investment Approaches and Effects on Costs 83
     
    5. Shareholder Engagement 84
     
    5.1. Benefits of Shareholder Engagement 84
     
    5.2. Disadvantages of Shareholder Engagement 85
     
    5.3. The Role of an Equity Manager in Shareholder Engagement 85
     
    6. Equity Investment across the Passive-Active Spectrum 87
     
    6.1. Confidence to Outperform 87
     
    6.2. Client Preference 88
     
    6.3. Suitable Benchmark 89
     
    6.4. Client-Specific Mandates 89
     
    6.5. Risks/Costs of Active Ma