Guide to Investment Strategy: How to Understand Markets, Risk, Rewards and Behaviour - Hardcover

Peter Stanyer

3.31

188 ratings by Goodreads

9781861978516: Guide to Investment Strategy: How to Understand Markets, Risk, Rewards and Behaviour

Hardcover

ISBN 10: 1861978510 ISBN 13: 9781861978516

Publisher: Profile Books, 2006

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This book explores the controversies that surround the management of wealth and provides guidance on how to construct investment strategies that are appropriate for each investor. With its detailed analysis, supported by data and anecdotes drawn from investment experiences, it is intended above all to be a practical guide. It shows how the insights of behavioural analysis are widely reflected in investor behaviour. It also emphasises the importance of basing recommendations for investment strategy on the principles of traditional finance. And it takes into account new research into behavioural and traditional finance which has created new understandings of what investors want to achieve and investors' customary mistakes. Part one considers the basics of investor objectives, behaviour, risk and investment allocation in terms of stocks, bonds and cash. Part two considers the things on which investors, their advisers and investment managers spend most of their time - the choice of money manager, bonds, equities, hedge fund strategies, private equity and real estate.

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From the Back Cover:

"The first edition of Peter Stanyer's Guide to Investment Strategy stressed the advantages of 'keep-it-simple' strategies and the need for investors to start by 'knowing themselves'. Both proved critically important in the years that immediately followed. The second edition provides an astute and accessible analysis of how the different markets fared in the credit crunch and of both simple and more complicated strategies for investors."
Jeremy Marshall, CEO, C.Hoare and Co

"The first edition of this guide was both timely and prescient, and I am sure the second edition will prove equally so. I especially enjoyed the new chapter on investing in art and collectibles and reflected that victims of recent high-profile Ponzi schemes would have done well to have read the section on trusting your adviser."
Dr Steve Satchell, Reader of Financial Econometrics, Cambridge University, and Fellow, Trinity College, Cambridge

On the first edition

"An excellent guide to investment strategy, summarising the latest thinking in a concise, readable format."
John Campbell, Professor of Economics, Harvard University

"Excellent ... written in a highly accessible fashion ... takes full account of behavioural finance findings in addition to traditional finance."
Thomas Sowanick, Co-President and Chief Investment Officer of Omnivest Group LLC

"Will server trustees, investment managers and high net worth investors well in their quest for solid investment results at sensible risks."
Robert D. Arnott, Chairman, Research Affiliates, LLC

About the Author:

Peter Stanyer is an economist and strategist at Delmore Asset Management, a London-based private wealth manager. He also serves on the investment committees of two large pension funds and of one college endowment. He was previously chief investment officer of a US-based investment firm, a managing director at Merrill Lynch, and investment director of the UK's Railways Rail Pension Fund. He has also worked as an economist for the Bank of England and the IMF, and when at Cambridge University he won the Adam Smith prize for economics.

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