Portfolio Construction for Today's Markets: A practitioner's guide to the essentials of asset allocation

For most of the past 50 years the simplest asset allocation solution was often the best. A balanced portfolio of stocks and bonds provided the investor with good returns. Unfortunately, this approach is not likely to work as well in the future. Interest rates are close to historic lows, equity valuations and bond prices appear stretched, and global economic growth has slowed. Investors need a new asset allocation solution.

In Portfolio Construction for Today's Markets, BlackRock Portfolio Manager and investment expert Russ Koesterich addresses this problem by describing the step-by-step approach to building a portfolio consistent with investor goals and suited to today’s market environment.

This portfolio construction process is divided into six stages, beginning with setting objectives and moving through assessing risk tolerance, diversification, the importance of factors, generating return assumptions, and combining assets in a risk-controlled manner. In the final chapter, Mr Koesterich presents a highly useful summary of the five fundamental rules of asset allocation and a five-step checklist to follow when constructing portfolios.

For investors and their advisors constructing portfolio in today's markets, this book is an indispensable new guide.

• A Practitioner's Guide to Asset Allocation (Wiley Finance)
• All About Asset Allocation, Second Edition
• The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk
• Strategic and Tactical Asset Allocation: An Integrated Approach
• Global Asset Allocation: A Survey of the World’s Top Asset Allocation Strategies
• Your Complete Guide to a Successful & Secure Retirement
• Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility, 2018 Edition
• Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults Book 4)
• Mastering the Market Cycle: Getting the Odds on Your Side
• Delivering Alpha: Lessons from 30 Years of Outperforming Investment Benchmarks