"Picerno's look at modern portfolio theory's evolution offers a timely reminder that the design and management of asset allocation is still the critical element for successful investing."
— Harold Evensky, CFP
President, Evensky & Katz Wealth Management
"What Peter Bernstein did for the history of portfolio theory in Capital Ideas, Picerno does for its real-world application. He captures the nuanced soup of theory, markets, and investor behavior better than any other writer on investing."
— Patrick Geddes
Cofounder and Chief Investment Officer, Aperio Group
Former CFO and Director of Quantitative Research, Morningstar Inc.
"Picerno puts the tires to the pavement on Peter Bernstein's 2003 proclamation that the policy portfolio is dead. Picerno masterfully articulates the implications that follow from the notion that although the market portfolio may be efficient, markets may not be."
— Rodney N. Sullivan, CFA
Editor, Financial Analysts Journal at CFA Institute
"Dynamic Asset Allocation is cogently written in a very readable style. James Picerno presents readers with a wonderful history of the developments in asset allocation and then profides an excellent frameword for investors to utitilize the discipline of asset allocation in their own portfolio-composition process. Any serious investor will want to have this book in their library."
— Gary P. Brinson
President, GP Brinson Investments
About the Author
James Picerno is a financial journalist who has been writing about finance and investment theory for more than twenty years. He currently contributes to trade magazines for financial professionals and financial advisers, edits The Beta Investment Report, and writes the finance blog, the Capital Spectator. He has written for Barron’s, Investment Advisor, Mutual Funds, and Bloomberg Markets.