INDICE: Acknowledgments. Introduction. The Holy Grail. The Quest Begins. Chapter 1 Mutual Funds: The Evidence. When You Wish Upon a Morningstar. Focus Funds. Active Management of Bond Funds. Skill Versus Luck. Advice from Professional Investors and Academics. Admissions from Industry Practitioners and the Financial Media. Chapter 2 Pension Plans: The Evidence. Counterproductive Activity. The Value of Consultants. The Performance of Funds Offered by 401(k) Plans. Fund Selection Skills. Please Don't Do Something, Stand Still. Advice from Professional Investors. Admissions from an Industry Practitioner. Chapter 3 Hedge Funds: The Evidence. The Problems With Hedge Funds. Advice From Professional Investors and Academics. Chapter 4 Private Equity/Venture Capital: The Evidence. Characteristics of Private Equity Returns. Bias in the Data. Advice from a Professional Investor. Chapter 5 Individual Investors: The Evidence. Investment Returns Versus Investor Returns. Advice from Professional Investors and Academics. Admissions from Industry Practitioners and the Financial Media. Chapter 6 Behavioral Finance: The Evidence. There Is Smoke, But No Fire. The Tyranny of the Efficient Markets. Further Evidence. The Failed Quest. The Value of Behavioral Finance. Even Smart People Make Mistakes. Admissions from Industry Practitioners. Summary. Chapter 7 Why Persistent Outperformance is Hard to Find. The Quest for Alpha Is a Game Played on a Different Field. Successful ActiveManagement Sows the Seeds of Its Own Destruction. Closet Indexing. Concentration and the Role of Trading Costs. The Role of Trading Costs. Drifting Out of Small Caps. Encore Performances. Who Gets the Money to Manage? The Value of Economic and Market Forecasts. The Value of Expert Judgment. We All Want to Believe. The Value of Security Analysis. Buy, Sell or Hold. The Hurdles Are Getting Higher. Advice from Professional Investors and Academics. Admissions From Industry Practitioners and Academics. Chapter 8 The Prudent Investor Rule. The Prudent Investor Rule. The American Law Institute. The Uniform Prudent InvestorAct. Chapter 9 Whose Interests Do They Have at Heart? Advice From Professional Investors. Admissions From Industry Practitioners and Academics. A Triumph of Hope Over Experience. The Arithmetic of Active Management. The Arithmetic ofActive Investing. The Math Is Always the Same. The Costs of Active Investing.The Cost of Cash. An Expensive Quest. Summary. Chapter 10 How to Play the Winner's Game. Indexing Is More Than the S&P 500 Index. Does Passive Investing Produce Average Returns? Enough. Needs Versus Desires. Pascal's Wager. Conclusion. The Yale Endowment Fund. The Way to Win Is Not to Play. The Quest for the Holy Grail. The Winner's Game. Appendix A Rules of Prudent Investing. Appendix B Doing It Yourself. Notes. Sourc
- ISBN: 978-0-470-92654-3
- Editorial: John Wiley & Sons
- Encuadernacion: Cartoné
- Páginas: 208
- Fecha Publicación: 12/01/2011
- Nº Volúmenes: 1
- Idioma: Inglés