Post Modern Investment : Facts and Fallacies of Growing Wealth in a Multi-Asset World

Debunking outdated and inaccurate beliefs about investment management and reveals the new realities of the post-modern financial markets There have been a lot of big changes in the investment world over the past decade, and many long-cherished beliefs about the structures and performance of various investments no longer apply. Unfortunately the news seems not to have reached many thought leaders and investment professionals who persist in trying, and failing, to apply 20th-century thinking to 21st-century portfolio management. Nowhere is this more true than when it comes to the subject of alternative investments. Written by an all-star team of investment management experts, this book debunks common myths and misconceptions about most classes of alternative investments and offers valuable advice on how to develop investment management and asset allocation strategies consistent with the new realities of the ever-changing world of alternative investments. Covers most alternative asset classes, including private equity, real estate, managed futures, hedge funds, commodity indices, and more Debunks long-held assumptions about the structure and performance of various investment classes that continue to dominate the industry Explores the implications for investment managers of the proliferation of international marketable securities and global financial markets Provides an overview of both the micro and the macro aspects of each alternative investment class

In our explorations, we have learned that financial myths contain enough plausibility to encourage intellectual laziness; enough truth to support the lie; enough pathos to snare the human condition; and enough visceral appeal to be widely embraced. But, more important, the myths and misconceptions are usually based on rigorously tested past truths. Behavioral science informs us that there is perhaps nothing more difficult to abandon than a tested past truth.

Discover the new realities of a postmodern financial marketplace and the proper role of both traditional and alternative asset classes in effective asset management.

Today's trading environment is fundamentally different from what it was just five years ago. Yet many long-held assumptions about the various investment classes continue to dominate the thinking of investment professionals, despite the fact that the realities upon which those accepted "truths" were based have passed into history.

Postmodern Investment dispels common fallacies and outdated assumptions that continue to plague the decision making of finance professionals while shining a spotlight on the new realities of a post-modern global financial marketplace. Drawing upon their considerable experience as investment professionals and industry thought leaders and backed by a wealth of empirical data, the authors:

• Debunk common myths and fallacies concerning the structure and performance of various investment classes that continue to influence the thinking of investment professionals
• Clearly and thoroughly analyze the new realities of risk and return for both traditional and alternative asset classes
• Explore the implications for investment managers of the proliferation of international marketable securities and global financial markets
• Provide an overview of both the micro and the macro aspects of each alternative investment class
• Cover most alternative asset classes, including private equity, real estate, managed futures, hedge funds, commodity indices, and more
• Provide the foundation for developing a more agile and expansive approach to asset management geared to today's more complex, ever-evolving global financial markets