Many investors believe that success in investing is either clairvoyance or luck. In Rational Investing: The Subtleties of Asset Management (PDF), asset manager Jacques Lussier and finance professor Hugues Langlois present the current state of asset management and explain the conundrum of luck versus skill. The heart of Rational Investing is a framework for smart investing constructed around three performance drivers: efficiently diversifying bad luck, balancing exposure to risk factors, and taking advantage of relative mispricings in financial markets. With strong examples from model multi-asset-class portfolios, Lussier and Langlois show how to apply performance drivers like institutional investors with access to extensive resources, and also nonprofessional investors who are restricted to small-scale transactions. There are few investment products, whether alternative or traditional, discretionary or systematic, quantitative or fundamental, whose performance cannot be analyzed through this framework. Lussier and Langlois clarify the structure of financial markets and the mechanism of sustainable investing so any financier can become a rational player, from the nonprofessional investor with a fundamental knowledge of statistics all the way to seasoned investment professionals wishing to test their understanding of the asset management industry.
“Strongly based on a solid study and clearly written, this important ebook is a great way to invest a day in snowballing your investment success.” — Charles D. Ellis, author, The Index Revolution and Winning the Loser’s Game
“With useful and clear examples, the ebook adopts a big picture approach that can be applied to numerous types of assets….a great resource for any investor looking to improve his or her investment performance.” — Choice
NOTE: The product only includes the ebook Rational Investing: The Subtleties of Asset Management in original ePub. A converted PDF is available on request. No access codes are included.