Delivering Alpha: Lessons from 30 Years of Outperforming Investment Benchmarks
McGraw-Hill Education (Verlag)
978-1-260-44148-2 (ISBN)
For many investors, alpha is akin to the Holy Grail. Risk-adjusted returns above benchmarks—alpha—are particularly challenging to achieve even with a sound strategy. Hilda Ochoa-Brillembourg is an expert on alpha. Over the past four decades, she and her team consistently exceeded benchmarks and delivered appreciable value added on their investments.
In Delivering Alpha, she reveals the principles and methods employed in her investment strategies, along with insights drawn from her personal life. She shows how timing, market awareness, price, and relative value to the investor are critical drivers of effective investment decisions. Ochoa-Brillembourg also debunks common investment myths that often trip up both new and experienced investors.
Delivering Alpha provides practical advice on:
•Creating successful decision-making governance to reduce errors and correctly assign responsibilities and incentives •Dealing thoughtfully and effectively with governance challenges•Building the right policy portfolio, specifying desired allocations to each asset class•Structuring asset classes and adding value-oriented or other opportunistic “tilts”•Measuring and managing risks, avoiding common mistakes, and more
Light on theory and serious on practice, this book is the culmination of a lifetime’s experience from one of the most successful women in finance. It’s essential reading for investors looking to add sustainable value to globally diversified portfolios.
Hilda Ochoa-Brillembourg, CFA, is the lead founder and chairman of Strategic Investment Group and co-founder of Emerging Markets Management. A Fulbright Fellow and Fulbright Lifetime Achievement awardee, she completed doctoral studies, all but dissertation, in Business Administration in Finance at Harvard Business School and received a Master of Public Administration from the Kennedy School of Government at Harvard. Ochoa-Brillembourg served as the Chief Investment Officer at the Pension Investment Division at the World Bank from 1976 to 1987 and continued as a Manager of the World Bank Pension assets until 1996. She is a lifetime member of the Council on Foreign Relations, a member of the American Enterprise Institute Board, the Committee for Economic Development Board, Harvard's Kennedy School Dean's Executive Council and Dean's Alumni Leadership Council, and was a longtime member of the World Economic Forum. She has served in multiple public company and non-profit boards, and she is the founder and chairman of the Orchestra of the Americas.
Preface
Introduction: The Incredible Ride
Part I: Portfolio Fit Theory: The Value of an Investment to Your Portfolio
Chapter 1: Fit Theory
Part II: Building the Right Policy Portfolio
Chapter 2: Meet the Skeptics
Chapter 3: Investment Policy: Mission Objectives and Needs
Chapter 4: Liability-Driven Investing: A Brave New World of Fiduciary Issues
Chapter 5: Moving From Theory to Practice
Chapter 6: Changing the Policy
Chapter 7: Selecting Appropriate Benchmarks
Chapter 8: Rebalancing Versus Tactical Tilts: How Frequently and Why?
Chapter 9: Policies are Increasingly Diverging
Chapter 10: Responsible Investing: One More Source of Divergence
Chapter 11: The Uses of Volatility
Chapter 12: Transporting Alphas (Or Betas)
Part III: Structuring the Asset Class
Chapter 13: New Maps of Value
Chapter 14: Where the Structural Tilts Are
Part IV: Selecting and Terminating Managers
Chapter 15: Asking the Right Questions
Chapter 16: When to Retain a Seriously Underperforming Manager
Part V: Measuring and Managing Risks
Chapter 17: The Boundaries of Risk
Chapter 18: Nonmarket Risks
Part VI: Built to Last: Leadership Attributes, Creative Management, Succession Planning, and Transitions
Chapter 19: The Wisdom of Teams
Chapter 20: Governing for Success
Acknowledgments
Appendix: Self-Assessment for Fiduciaries
Glossary of Investment Terms
Notes
Bibliography
Index
| Erscheinungsdatum | 05.12.2018 |
|---|---|
| Verlagsort | OH |
| Sprache | englisch |
| Maße | 160 x 239 mm |
| Gewicht | 599 g |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Allgemeines / Lexika |
| ISBN-10 | 1-260-44148-2 / 1260441482 |
| ISBN-13 | 978-1-260-44148-2 / 9781260441482 |
| Zustand | Neuware |
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