{"product_id":"the-climb-to-investment-excellence-9781394206698","title":"The Climb to Investment Excellence","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003ePrologue xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I: Base Camp – The Adventure Begins 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePreparing for Base Camp: The must-read chapters to maximize the probability of success\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Identifying the Summit 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSetting the Investment Objective 6\u003c\/p\u003e \u003cp\u003eUnderstanding Constraints and Payout 8\u003c\/p\u003e \u003cp\u003eVarious Approaches to Policy Portfolios 11\u003c\/p\u003e \u003cp\u003eRisk Tolerance 13\u003c\/p\u003e \u003cp\u003eTime Horizon 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Defining Governance Responsibilities 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDelegation of Authority 20\u003c\/p\u003e \u003cp\u003eExtent of Delegation 21\u003c\/p\u003e \u003cp\u003eGovernance 25\u003c\/p\u003e \u003cp\u003eAssembling the Team 26\u003c\/p\u003e \u003cp\u003eTransparency into the Investment Process 30\u003c\/p\u003e \u003cp\u003eSettling in at Base Camp: Expanding the toolbox to refine the skill set and broaden the options in the face of changing conditions\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 The Subtlety of Public Markets 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Role of Public Assets 36\u003c\/p\u003e \u003cp\u003eCapturing Growth in Public Equities 37\u003c\/p\u003e \u003cp\u003eNuances of Fixed Income 41\u003c\/p\u003e \u003cp\u003eHedge Funds Are an Essential Tool 43\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Perspectives on Private Markets 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Role of Private Investments 48\u003c\/p\u003e \u003cp\u003eThe Illiquidity Premium 51\u003c\/p\u003e \u003cp\u003eDuration of Investment Holding Period 52\u003c\/p\u003e \u003cp\u003eLeverage 53\u003c\/p\u003e \u003cp\u003eTraditional Fund Structures 54\u003c\/p\u003e \u003cp\u003eAlternative Fund Structures 54\u003c\/p\u003e \u003cp\u003eReconciling Performance 57\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II: The Excitement of the Climb 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFrom Base Camp to First Camp: Asset Allocation; Developing the road map for the expedition\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Developing a Policy Portfolio 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital Market Assumptions 66\u003c\/p\u003e \u003cp\u003eOptimizer Constraints 70\u003c\/p\u003e \u003cp\u003eThe Cloud of Efficiency 73\u003c\/p\u003e \u003cp\u003eCreating the Policy Portfolio 74\u003c\/p\u003e \u003cp\u003eRange of Possible Outcomes 76\u003c\/p\u003e \u003cp\u003eStress Testing 76\u003c\/p\u003e \u003cp\u003eFrom First Camp to Second Camp: Portfolio Management; The art of adapting to the constantly changing landscape\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Portfolio Construction 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSelecting Market Beta Exposure 86\u003c\/p\u003e \u003cp\u003eDiversification of Alpha Sources 86\u003c\/p\u003e \u003cp\u003eDesigning Asset Class Strategy 87\u003c\/p\u003e \u003cp\u003ePhilosophy of Concentration versus Diversified Managers 87\u003c\/p\u003e \u003cp\u003eSizing of Managers 88\u003c\/p\u003e \u003cp\u003eReassessing Sizing 89\u003c\/p\u003e \u003cp\u003eRebalancing Ranges 90\u003c\/p\u003e \u003cp\u003eInternal Process 91\u003c\/p\u003e \u003cp\u003eExogenous Risks 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Active Risk 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMeasuring Active Risk 95\u003c\/p\u003e \u003cp\u003eSize Limitations to Active Risk 97\u003c\/p\u003e \u003cp\u003eSetting Expectations of Annualized Alpha 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Portfolio Hedging 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eActive Hedging Strategy 101\u003c\/p\u003e \u003cp\u003eVolatility Management Strategy 104\u003c\/p\u003e \u003cp\u003eAlternatives to Hedging 106\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Liquidity Management 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIlliquidity Tolerance 110\u003c\/p\u003e \u003cp\u003eUnfunded Commitments 112\u003c\/p\u003e \u003cp\u003eModeling Portfolio Cash Flows 113\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Secondaries 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTool in Active Portfolio Management 115\u003c\/p\u003e \u003cp\u003eSelection of a Secondary Agent 117\u003c\/p\u003e \u003cp\u003eConstructing a Portfolio for Sale 118\u003c\/p\u003e \u003cp\u003eRisk Management Benefits versus Cost 120\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Benchmarks 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBenchmark Design Options 124\u003c\/p\u003e \u003cp\u003eBenchmark Selection 127\u003c\/p\u003e \u003cp\u003eTesting the Benchmarks 127\u003c\/p\u003e \u003cp\u003eMaking Changes to Benchmarks 128\u003c\/p\u003e \u003cp\u003eFrom Second Camp to Third Camp: Manager Selection; Selecting your partners for the climb, trusting your instincts, and learning when to quit with grace\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Manager Selection 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEvolution of Manager Selection 132\u003c\/p\u003e \u003cp\u003eSetting the Bar 133\u003c\/p\u003e \u003cp\u003eRefining the Skills Needed on the Team 134\u003c\/p\u003e \u003cp\u003eDue Diligence Process Design 134\u003c\/p\u003e \u003cp\u003eManager Diligence and Selection Process 135\u003c\/p\u003e \u003cp\u003eSizing the Investment 139\u003c\/p\u003e \u003cp\u003eMonitoring the Portfolio 140\u003c\/p\u003e \u003cp\u003eIdentifying Biases in Mature Portfolios 141\u003c\/p\u003e \u003cp\u003eKnowing When to Quit 143\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III: the Summit in View 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReaching for the Summit: Managing Stakeholders; The most dangerous part of the climb\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Managing the Team 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTeam Culture 154\u003c\/p\u003e \u003cp\u003eTeam Structure 155\u003c\/p\u003e \u003cp\u003eDecision-Making Process 156\u003c\/p\u003e \u003cp\u003eSize and Skills of Team 157\u003c\/p\u003e \u003cp\u003eLeadership 158\u003c\/p\u003e \u003cp\u003eDesigning an Incentive Plan That Works 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Managing Up 165\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDeveloping Trust with the Board 166\u003c\/p\u003e \u003cp\u003eTransparency in Reporting 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15 Managing Relationships with Fellow Investors 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDeveloping True Partnership with GPs 172\u003c\/p\u003e \u003cp\u003eApproaches to Diversity, Equity, and Inclusion 174\u003c\/p\u003e \u003cp\u003e\u003cb\u003e16 Managing the Self 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Value of Integrity, Emotional Intelligence, and Values 179\u003c\/p\u003e \u003cp\u003eHoning the Competitive Edge 181\u003c\/p\u003e \u003cp\u003eGlossary 187\u003c\/p\u003e \u003cp\u003eIndex 189\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49407604490583,"sku":"9781394206698","price":20.39,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781394206698.jpg?v=1730499909","url":"https:\/\/bookcurl.com\/products\/the-climb-to-investment-excellence-9781394206698","provider":"Book Curl","version":"1.0","type":"link"}