Ebook Free Download | Optimal Portfolio Modeling | This book is an excellent introduction to the world of portfolio management and managing risk and return in general. The author's approach is from a statistical viewpoint but with minimal math. The book covers such areas as market micro structure and the distribution of price changes. It also debunks some myths about how effective stop losses are. That part was very interesting and clearly identifies when to use stop losses and when not to do so.
The treatment of how to maximize Sharpe Ratio was very clear and thorough but still accessible to the layman. For those who do not know any Excel at all this book may need to be supplemented with an introductory Excel book. But all of the more advanced Excel features are fully explained and very clear. Examples are presented in both Excel and the language R. The examples are also available on the CD that accompanies the text. For novices in the statistical language R, a full introduction is provided as an appendix. This was very helpful. It is almost like getting two books for the price of one.
The discussion of robust random portfolio modeling was very advanced and yet treated at an introductory level. The dual discussion of the log normal distribution along with the empirical distribution of real fat tailed markets was very refreshing. The book also espouses a new log log utility model that is quite innovative. All in all, it is an innovative book that is well written and easy to understand.
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