Theory and Methodology of Tactical Asset Allocation

Theory and Methodology of Tactical Asset Allocation

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Asset allocation has long been viewed as a safe bet for reducing risk in a portfolio. Asset allocators strive to buy when prices are low and sell when prices rise. Tactical asset allocation (TAA) practitioners tend to emphasize shorter-term adjustments, reducing exposure when recent market performance has been good, and increasing exposure in a slipping market (in contrast to dynamic asset allocation, or portfolio insurance). As interest in this technique continues to grow, J.P. Morgan's Wai Lee provides comprehensive coverage of the analytical tools needed to successfully implement and monitor tactical asset allocation.The global market crash of October 1987 played an important role in shaping the future of TAA strategies and portfolio insurance. Before the crash, most valuation techniques viewed stock as significantly overvalued. However, the stock marketanbsp;...

Title:Theory and Methodology of Tactical Asset Allocation
Author:Wai Lee
Publisher:John Wiley & Sons - 2000-08-15


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