Beyond Diversification
Beyond Diversification provides everything you need to find the asset combination that will deliver the results you seek. Written by Sebastien Page, a leading allocation expert from T. Rowe Price, Beyond Diversification provides the knowledge, insights, and approaches you need to make the best allocation decisions for your goals. Page sets out the pros and cons of different approaches to forecasting, provides advice on portfolio construction and offers sample portfolios that put theory into practice. He also includes examples from T. Rowe Price’s asset allocation team showing you how the process works in the real world. Through Beyond Diversification, you’ll learn how to choose the right tradeoffs, build the most effective asset allocation combination for your needs, and dramatically increase your odds of success for the long run.
THREE DECISIVE COMPONENTS
Return Forecasting.
Discusses the desired return investors seek.
Risk Forecasting.
Covers the level of risk investors are prepared to assume to achieve that return.
Portfolio Construction.
Calibrates the stock-bond mix that balances the risks and returns.
PRAISE FOR THE BOOK
"Sébastien Page presents an eclectic blend of theory, anecdotes, and common sense to describe the best practices of investment management... Read this book, and without doubt, you will become a wiser investor."
—Mark Kritzman, President and CEO, Windham Capital Management, Senior Lecturer in Finance, MIT Sloan School of Management
"It represents an authoritative survey of a broad range of recent research on related topics of asset allocation, risk measurement and return forecasting with an emphasis on its practical application in asset management. It is thoughtful, well written and surprisingly entertaining."
—Stephen Brown, Emeritus Professor of Finance, NYU Stern School of Business
"Whether you invest for fun or profit, his framework for forecasting risk and return to build portfolios will resonate. Clearly written and understandable concepts make Beyond Diversification a one-stop choice for any student of investing."
—Bill Stromberg, CEO, T. Rowe Price
"In this tour-de-force, seasoned investor and researcher Sébastien Page provides sophisticated answers to many questions arising in the practice of asset allocation, risk management, forecasting, and portfolio construction."
—Laurence B. Siegel, Gary P. Brinson Director of Research, CFA Institute Research Foundation
ABOUT THE AUTHOR
Sebastien Page is Head of Global Multi-Asset and CIO at T. Rowe Price, where he oversees more than over $450 billion in assets.
He was an Executive Vice President at PIMCO, where he led a team focused on research and development of multi-asset solutions.
He regularly appears in the financial media, including Bloomberg TV and CNBC.