By David Darst
Asset allocation is an important and continuously renowned subject between traders of every kind. The artwork of Asset Allocation is a pragmatic, hands-on consultant that exhibits finance execs and person traders easy methods to in achieving an asset stability designed to thrive in a variety of monetary marketplace environments. David Darst, writer of the hugely acclaimed the total Bond ebook, presents a complete framework for utilizing asset allocation ideas in bull, undergo, or non-trending markets.
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Additional resources for The Art of Asset Allocation: Principles and Investment Strategies for Any Market, Second Edition
Investors who can construct and manage their wealth with a longer time frame have many more chances to use the gains earned in good years to offset the damages wrought by short-term volatility. S. Treasury bonds). Even at relatively modest annual rates of inflation, over a 20-year time period, the effective loss in an investment’s purchasing power can be debilitating. 85 times the original value merely to maintain purchasing power. Source: The Author. average annual inflation rates ranging from 1% to 15% and for time periods of 1, 5, 10, and 20 years.
Third, a so-called portfolio-optimization program can generate a set of possible asset allocations, each with its own level of expected risk and return. From these results, investors can select a series of what are known as Efficient Frontier asset allocations, showing portfolios with the minimum risk for a given level of expected return, as well as portfolios with the maximum expected return for a given level of risk. Fourth, after reviewing the asset allocations suggested by the portfolio-optimization modeling software, investors may very well decide to set upper and/or lower percentage limits on the maximum and minimum amounts allowed in the portfolio.
In such periods, asset-allocation activity that assumes and relies on geographical price divergence may yield disappointing results. Unstable Ingredient/Result Profile: The asset-allocation process tends to not produce satisfying results if small variations in the mix of assets in the investor’s asset allocation produce wide swings in the portfolio’s expected outcomes. It is often helpful to test the expected risk and return of several slightly varying asset allocations under a CHAPTER 1 Essentials of Asset Allocation ◆ ◆ 15 range of possible financial scenarios.
The Art of Asset Allocation: Principles and Investment Strategies for Any Market, Second Edition by David Darst