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Produktbild: The Only Guide to Alternative Investments You'll Ever Need

The Only Guide to Alternative Investments You'll Ever Need The Good, the Flawed, the Bad, and the Ugly

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Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

01.11.2008

Verlag

Kogan Page

Seitenzahl

320

Maße (L/B/H)

23,5/15,7/2,2 cm

Gewicht

618 g

Sprache

Englisch

ISBN

978-1-57660-310-9

Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

01.11.2008

Verlag

Kogan Page

Seitenzahl

320

Maße (L/B/H)

23,5/15,7/2,2 cm

Gewicht

618 g

Sprache

Englisch

ISBN

978-1-57660-310-9

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: GPSR Kontakt

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  • Produktbild: The Only Guide to Alternative Investments You'll Ever Need
  • Acknowledgments.
    Introduction.
    A Travel Guide to Alternative Investments.
    Modern Portfolio Theory.
    The Good, the Flawed, the Bad, and the Ugly.

    PART 1 The Good.
    Chapter 1 Real Estate.
    Historical Returns and Risk: U.S. Real Estate, U.S. Equities, and International Equities.
    The Diversification Benefits of REITs.
    Benefits of Diversification: Sample Portfolios.
    Asset Location and Real Estate.
    Recommended Investment Vehicles.
    International Real Estate.
    DRW, RWX, and WPS.
    DFA International Real Estate Securities Portfolio.
    Tax Considerations.
    The Wrap-Up on International REITs.
    Your Home and the Asset Allocation Decision.
    Wrap-Up on the Home as an Investment.
    Wrap-Up on Direct Ownership.
    Summary.

    Chapter 2 Inflation-Protected Securities.
    Real or Nominal Return Bonds: Which Are Riskier?
    TIPS: Doing the Math.
    Correlations with Equities and Inflation.
    Inflation, Price, and Interest Rate Risk.
    Inflation Risk.
    Price Risk.
    Interest Rate Risk.
    TIPS: Pros and Cons.
    Pros.
    Cons.
    Allocating Between Real and Nominal Return.
    Fixed-Income Assets.
    A Shifting Allocation Approach.
    Developing a Strategy.
    Implementation.
    A Shifting Maturity Strategy.
    I Bonds.
    Summary.

    Chapter 3 Commodities.
    Correlation with Stocks, Bonds, and Inflation.
    Event Risk.
    A Risk-Reduction Tool.
    Portfolio Efficiency.
    Gaining Exposure to Commodities.
    Mutual Funds: QRAAX and PCRIX.
    Commodity-Related ETFs.
    Commodity-Related ETNs.
    CTAs.
    The Argument Against Investing in Commodity Producers.
    The Equities of Oil Producers.
    Implementation.
    Summary.

    Chapter 4 International Equities.
    Emerging Markets Equities.
    Correlations.
    Sample Portfolios.
    The Risks of Investing in Emerging Markets.
    Small-Cap and Value Stocks.
    Recommended Vehicles.
    Wrap-Up: Emerging Markets.
    International Small-Cap Stocks.
    Sample Portfolios.
    Recommended Vehicles.
    Summary.

    Chapter 5 Fixed Annuities.
    How Long Do Payments Continue?
    Determinants of Payment Size.
    The Benefits of Annuitization.
    Mortality Credits Make It Possible.
    When Annuities Can Be the Right Choice.
    Evidence from Academia.
    When to Purchase a Fixed Annuity.
    Inflation-Indexed Immediate Annuities.
    Summary.

    Chapter 6 Stable-Value Funds.
    Unique Risk and Return Characteristics.
    Investment Portfolios.
    Risks.
    Costs.
    Restrictions.
    Returns Change Slowly Over Time.
    Cash Flows Can Affect Returns.
    Summary.

    PART 2 The Flawed.
    Chapter 7 High-Yield (Junk) Bonds.
    Explaining the Low Correlation.
    Is Higher Yield Worth Higher Risk?
    The Importance of Equity Risk.
    Hybrid Securities and Asset Allocation.
    Evidence Supported by Theory.
    Do High-Yield Bonds Have a Role?
    Illiquid Securities.
    Other Negative Characteristics.
    Distribution of Returns Matters.
    High-Yield Bonds and Efficient Frontier Models.
    Inflation Risk.
    Asset Location.
    The Need for Diversification.
    The Historical Evidence.
    Vanguard High-Yield Corporate Fund.
    More Efficient Alternatives.
    Summary.

    Chapter 8 Private Equity (Venture Capital).
    Origins.
    The Attraction.
    The Historical Evidence.
    Characteristics of Private Equity Returns.
    Venture Capital Versus Publicly Traded Securities.
    Inefficient Diversification.
    Bias in the Data.
    Perception Versus Reality.
    Private Equity's Role in a Portfolio.
    Nonmonetary Explanations for Private Equity Investing.
    Summary.

    Chapter 9 Covered Calls.
    Taxes Matter.
    Transactions Costs.
    An Alternative Strategy.
    Summary.

    Chapter 10 Socially Responsible Mutual Funds.
    Defining SRI.
    Rapid Growth.
    Does Socially Responsible Investing Come at a Price?
    The "Price" of Principles.
    Summary.

    Chapter 11 Precious Metals Equities.
    Risk.
    Returns.
    Correlations.
    The Hedging Value of PME.
    Positive Attributes of PME.
    Other Considerations.
    Implementing the Strategy.
    Summary.

    Chapter 12 Preferred Stocks.
    Long Maturities.
    Risks and Rewards of Long Maturities.
    Call Risk.
    Credit Risk.
    Long Maturities and Call Risk.
    Dividend Suspens