TAILIEUCHUNG - Ebook Portfolio construction management and protection (5th edition): Part 2

(BQ) Part 2 book "Portfolio construction management and protection" has contents: Security screening, the role of real assets, alternative assets, option overwriting, benching the equity players, revision of the equity portfolio,.and other contents. | 11 Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity. —General George S. Patton Security Screening Key Terms best of class investing Compustat Mergent, Inc. screen socially responsible investing Standard & Poor’s Corporation thin trading Value Line Investment Survey Introduction Security screening is an important part of the portfolio construction process, but one about which relatively little is written. Screening involves whittling the security universe down to a manageable size before doing more detailed research. Picking stocks is an art rather than a science; there is no single best way to choose individual investments. Everyone who participates in the capital markets uses some type of screen—a procedure for reducing a large set of alternatives to a more manageable number. This chapter does not go into great detail about individual stock analysis. Techniques such as ratio analysis, comparison with industry averages, and income statement sensitivity analysis help in learning about a company, but these are topics for another book. We will, however, review some common screening statistics that can provide fast information about a company’s likely future price behavior; the relationship between a firm’s return on assets and its return on equity is especially important. Nonetheless, recall that Chapter 1 said the modern trend in investment management is away from stock analysis and toward portfolio management. Remember also the Evans and Archer research, which provides evidence that it is better to select a few stocks randomly than to pick a single favorite. Why Screening Is Necessary Time Constraints Lack of time is the primary motivation for screening. 308 The primary reason screening is necessary is the limited amount of time available for making decisions. In the investment business, there simply is not time to analyze every security and process the associated information. Chapter 11 Security .

• Quản trị kinh doanh
• Portfolio construction management
• Security screening
• Alternative assets
• Benching the equity players
• The equity portfolio
• Alternative assets
• Option overwriting
• The process of portfolio management
• Setting portfolio objectives
• Investment policy
• Picking the equity players
• Equity valuation tools
• Hybrid decision making method
• Prioritize construction project portfolio
• Sustainable development criteria
• Lexicographic and sustainability criteria
• Project portfolio management