LEADER 05404nam 2200661 450 001 9910138986603321 005 20230803022624.0 010 $a1-118-41532-9 010 $a1-118-65676-8 010 $a1-118-41811-5 035 $a(CKB)2550000001166772 035 $a(EBL)1568417 035 $a(OCoLC)865331158 035 $a(SSID)ssj0001192430 035 $a(PQKBManifestationID)11675125 035 $a(PQKBTitleCode)TC0001192430 035 $a(PQKBWorkID)11227361 035 $a(PQKB)11079184 035 $a(MiAaPQ)EBC1568417 035 $a(Au-PeEL)EBL1568417 035 $a(CaPaEBR)ebr10814727 035 $a(CaONFJC)MIL548150 035 $a(EXLCZ)992550000001166772 100 $a20131217d2013 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancial advice and investment decisions $ea manifesto for change /$fJarrod W. Wilcox, Frank J. Fabozzi 210 1$aHoboken, New Jersey :$cJohn Wiley and Sons, Incorporation,$d2013. 210 4$dİ2013 215 $a1 online resource (354 p.) 225 0 $aThe Frank J. Fabozzi Series 300 $aDescription based upon print version of record. 311 $a0-470-64712-4 311 $a1-306-16899-6 320 $aIncludes bibliographical references and index. 327 $aCover; Title Page; Copyright Page; Dedication; Contents; Preface; Acknowledgments; About the Authors; CHAPTER 1 Why Do We Need Better Financial Advice?; The Individual; Organizational Influences; The Rest of the Story; CHAPTER 2 The Evidence Is Compelling; Financial Planning; Your Most Important Investment Decision; Option Payoffs are Not Simple; After-Tax Payoffs are Not Simple; Our Primitive Brains and Monkey See, Monkey Do; Others' Agendas and the Perils of the Ivory Tower; CHAPTER 3 The Extended Balance Sheet Approach to Financial Planning; The Simplest Model 327 $aThe Stochastic Dynamic Programming AlternativeThe Mental Accounting Alternative; The Extended Balance Sheet; A Financial Planning System; CHAPTER 4 Properties of Mostly Efficient Markets; Multi-Agent Emergent Behavior; Why Security Returns are Difficult to Predict; Markets Bubble and Crash; Investment Implications of Market Characteristics; CHAPTER 5 Growing Discretionary Wealth; The Discretionary Wealth Approach; Elements of the Approach; Appropriate Markowitz Risk Aversion; CHAPTER 6 Coping with Uncertain Knowledge; Interpretation of Probability; Bayesian Probability Fundamentals 327 $aResisting Forecasting OverconfidenceMaking Estimates More Robust to Extreme Observations; Taking Context into Account; Making Better Use of Information in Decisions; CHAPTER 7 Controlling Investing Behavioral Biases; Facing Up to Complexity; Promoting Independent Thinking; Controlling Organizational Biases; CHAPTER 8 Tax Efficient Investing; Context; Taxes that Affect Investment Returns; General Principles of After-Tax Investing; Measurement of After-Tax Performance and Benchmarks; CHAPTER 9 Matching Investment Vehicles to Needs; Revisiting Risk Aversion; Taxes Again; Diversification 327 $aHigher MomentsImplementation; CHAPTER 10 Active vs. Passive Strategies; Pricing Efficiency and the Active-Passive Debate; CHAPTER 11 Performance Measurement; Relating Measurement to Purpose; Spending Control; Measurement for Individual Passive Investing; Performance Reporting for Active Investors; Delegating Your Investments Based on Measurements; Measuring vs. Evaluating Performance; CHAPTER 12 Organizational Investing; Representative Investing Organizations; Delegating Superior Investing Results; Motivating Organizational Benefits; CHAPTER 13 Financial Advice and Society 327 $aSocial Ideals and Financial Problem SymptomsRedesigning Society with Better Financial Advice; And in Conclusion...; APPENDIX A Traditional Asset Classes and Alternative Assets; Asset Class Defined; Common Stock Asset Classes; Real Estate; Alternative Assets; APPENDIX B Bond Features, Yield Measures, and Risks; Features of Bonds; Yield Measures and their Limitations; Call and Prepayment Risk; Credit Risk; APPENDIX C Probability Distributions Commonly Used in Investment Management; Normal Distribution; Student's t-Distribution; Stable Distributions and Stable Paretian Distributions 327 $aAPPENDIX D Useful Financial Planning Formulas 330 $a A practical guide to adapting financial advice and investing to a post crisis world There's no room for ""business as usual"" in today's investment management environment. Following the recent financial crisis, both retail and institutional investors are searching for new ways to oversee investment portfolios. How do you combine growth with a focus on wealth preservation? This book offers you a fresh perspective on the changes in tools and strategies needed to effectively achieve this goal. Financial Advice and Investment Decisions provides today's investment professio 410 0$aFrank J. Fabozzi Series 606 $aPortfolio management 615 0$aPortfolio management. 676 $a332.6 700 $aWilcox$b Jarrod W$0572018 701 $aFabozzi$b Frank J$0109596 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910138986603321 996 $aFinancial advice and investment decisions$92043959 997 $aUNINA