Faber / Richardson The Ivy Portfolio

How to Invest Like the Top Endowments and Avoid Bear Markets
1. Auflage 2009
ISBN: 978-0-470-44281-4
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 256 Seiten, E-Book

A do-it-yourself guide to investing like the renowned Harvardand Yale endowments.
The Ivy Portfolio shows step-by-step how to track andmimic the investment strategies of the highly successful Harvardand Yale endowments. Using the endowment Policy Portfolios as aguide, the authors illustrate how an investor can develop astrategic asset allocation using an ETF-based investmentapproach.
The Ivy Portfolio also reveals a novel method forinvestors to reduce their risk through a tactical asset allocationstrategy to protect them from bear markets. The book will alsoshowcase a method to follow the smart money and piggyback the tophedge funds and their stock-picking abilities. With readable,straightforward advice, The Ivy Portfolio will showinvestors exactly how this can be accomplished--and allow themto achieve an unparalleled level of investment success in theprocess.
With all of the uncertainty in the markets today, The IvyPortfolio helps the reader answer the most often asked questionin investing today - "What do I do"?

Autoren/Hrsg.

Faber, Mebane T.

Richardson, Eric W.

Inhaltsverzeichnis

Preface.
Acknowledgments.
Part One: Constructing Your Ivy Portfolio.
Chapter 1 The Super Endowments.
Endowments Are Different.
Size Matters . . . .
. . . and So Does Performance.
Active Management over Passive.
Summary.
Chapter 2 The Yale Endowment.
History of the Endowment.
David Swensen's Ascent.
Of Alphas and Betas.
Outlining the Yale Process.
Domestic Equity.
Foreign Equity.
Fixed-Income.
Real Assets.
Private Equity.
Summary.
Chapter 3 The Harvard Endowment.
History of the Endowment.
The Owner's Mentality.
Harvard's Swensen.
More Money, More Problems.
How Harvard Does It.
Summary.
Chapter 4 Building Your Own Ivy League Portfolio.
Do as I Do--Shadowing the Super Endowments.
Risk-Adjusted Returns.
Do as I Say.
Infl ation Is the Enemy.
Creating an All-Weather Policy Portfolio through Indexing.
Implementing Your Portfolio.
Rebalancing Your Portfolio.
Summary.
Part Two: Alternatives.
Chapter 5 Private Equity.
What Is Private Equity?
Historical Returns and Benchmarking.
How to Invest in Publicly Listed Private Equity.
Summary.
Chapter 6 Hedge Funds.
A Brief Introduction to Hedge Funds.
Fund of Funds.
Options to Invest in Hedge Funds.
Individual Hedge Funds.
Fund of Funds.
Practical Considerations.
Summary.
Part Three: Active Management.
Chapter 7 Winning by Not Losing.
Losing Hurts.
The Quantitative System.
Out-of-Sample Testing and Systematic Tactical AssetAllocation.
Extensions.
A Rotation System.
Practical Considerations and Taxes.
Discipline.
The Systems versus the Endowments.
Why It Works.
Summary.
Chapter 8 Following the Smart Money.
Introduction to the 13F.
Combining the Top Fund Managers to Create Your Own Fund ofFunds.
Summary.
Chapter 9 Develop an Action Plan.
Implementing Your Ivy Portfolio.
Portfolios Discussed in The Ivy Portfolio.
Appendix A: A Brief Review of Momentum and Trend Following.
Appendix B: Additional Charts.
Appendix C: Recommended Reading.
Bibliography.
About the Authors.
Index.

Über Autor(innen)

Mebane T. Faber, CAIA, CMT, is the Portfolio Manager atCambria Investment Management where he manages equity and globaltactical asset allocation portfolios and the Cambria GlobalTactical ETF (GTAA). He is a frequent speaker and writer oninvestment strategies and authors the World Beta blog.
Eric W. Richardson, JD, is the founder and CEO of CambriaInvestment Management. He serves as the co-manager of the globaltactical asset allocation portfolios and the Cambria GlobalTactical ETF (GTAA).