Pioneering Portfolio Management pdf epub mobi txt 電子書 下載2025
David F. Swensen is Yale University's Chief Investment Officer and manages the university's $7 billion dollar endowment as well as several hundreds of millions of dollars in other investment funds. He serves as a Trustee of the Carnegie Institution of Washington, Director of the Investment Fund for Foundations, Member of the Hopkins Committee of Trustees and Member of the Investment Advisory Committees for the Howard Hughes Medical Institute and the State of Massachusetts. Mr. Swensen also teaches classes on portfolio management at Yale in New Haven
- 金融
- 投資
- Finance
- David.Swensen
- 機構投資與基金管理的創新
- 經濟
- Yale
- 管理
During his fourteen years as Yale's chief investment officer, David F. Swensen has transformed the management of the university's portfolio. Largely by focusing on nonconventional strategies, including a heavy allocation to private equity, Swensen has achieved an annualized return of 16.2 percent, which has propelled Yale's endowment into the top tier of institutional funds. Now, this acknowledged leader of fund managers draws on his experience and deep knowledge of the financial markets to provide a compendium of powerful investment strategies.
Swensen presents an overview of the investment world populated by institutional fund managers, pension fund fiduciaries, investment managers, and trustees of universities, museums, hospitals, and foundations. He offers penetrating insights from his experience managing Yale's endowment, ranging from broad issues of goals and investment philosophy to the strategic and tactical aspects of portfolio management. Swensen's exceptionally readable book addresses critical concepts such as handling risk, selecting investment advisers, and negotiating the opportunities and pitfalls in individual asset classes. Fundamental investment ideas are illustrated by real-world concrete examples, and each chapter contains strategies that any manager can put into action.
At a time when it is becoming increasingly difficult to cope with the relentless challenges provided by today's financial markets, Swensen's book is an indispensable roadmap for creating a successful investment program for every institutional fund manager. Any student of markets will benefit from Pioneering Portfolio Management.
具體描述
讀後感
这本书是前一个公司的老板在2009年4月送的，团队人手一本。当时读过，居然没有留下什么印象，可见当时主要还是停留在技术层面，没有太多感悟。8年过去了，一直从事投资工作，回头再看，倒觉得像是在聊天一样，颇有几点感悟： 1．这本书写的耶鲁基金的业绩是基于1985-1998年的美...
評分市面上投资理财门类的书籍甚众，自媒体时代能点评天下大势的大师也众多，然而阐述的大都是投资之术，耶鲁捐赠基金掌舵人史蒂文森的这本《机构投资的创新之路》是一本难得的讲投资之道的经典。这本书的分量是由三十年来耶鲁基金稳健优异的长期业绩表现作为背书的。史蒂文森的学...
評分 評分这本书是以史文森在耶鲁大学大学捐赠基金的实践经验为基础而撰写的，因此很多例子都是以美国过去数十年间的真实案例来论证阐述他的观点，对于了解美国金融史有很好的助益。对于整个美国金融史上不同时期热门的金融产品也多有涉及。 书名很明确地点明了这本书是给机构投资者看...
評分该书已经入围2010第一财经信诚基金年度金融书籍(欢迎前来加入我们“年度金融书籍小组”http://www.douban.com/group/281617/)
用戶評價
Yale的Swensen也許是最成功的endowment fund manager？不過對評估active funds來說一個難解的問題是skill和performance是兩個並不對等的概念，在CAPM world裏high return完全可能隻是因為managers took excessive risk，並沒法justify fund manager的skill
评分淺顯入門，但什麼detail都沒說
评分The second edition is vastly revised. Always helpful.
评分本書主要闡述瞭耶魯大學捐贈基金作為機構投資者的投資方法，具有藉鑒意義的是對於資産配置的方法。重點閱讀瞭第4,5,6章。
评分中文版。
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