Customer Reviews

The Analysis of Portfolio Management Performance: An Insitutional Guide to Assessing and Analyzing Pension Fund, Endowment, Foundation and Trust Investment Performance

5 star:		(2)
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3 star:		(1)
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The book is very well written and strikes the right balance between portfolio math and a discussion of the various ideas in investment performance. I specialize in automating financial reports and this book explained what many of these reports were trying to do (but which, I now see, could do better). I spent ($$$) for this book (...) and it was well worth it. This book isn't about beating the market, it's about understanding the components of one's investment return. How much is related to the balance of the portfolio, the stock selection, the market's broad movement. Was the manager taking unnecessary risks? If he did well was it due more to the portfolio's balance or the market's movement. I also keep going back to this book, it's a great reference.

The author touches on many aspects of analyzing the performance of an investment portfolio and the investment manager. The book is more basic overview than handbook or how-to manual. It is not quantitative or in-depth enough for the practitioner but may be of use to a layman finding himself with new fiduciary oversight responsibilities. The book is now 10 years old so most of the tables covering historical performance of investments and investment styles cover a period ending in 1995.

Very insightful in helping understand the elements that must be considered in investing into a portfolio and in managing a portfolio. Very well written and complete.