Richard C. Marston's Books

Portfolio Design

A Modern Approach to Asset Allocation

By: Richard C. Marston

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Portfolio Design

A Modern Approach to Asset Allocation

By: Richard C. Marston

Portfolio Design – choosing the right mix of assets appropriate to a particular investor – is the key to successful investing. It can help you accumulate wealth over time, while cushioning the blow of possible economic downturns. But in order to successfully achieve this goal, you need to be familiar with all of the major asset classes that go into modern portfolios and learn how much they add to portfolio diversification. Thoughtful asset allocation provides discipline to the investment process and gives you the best chance of building and safeguarding wealth. Wharton Professor Richard C. Marston, 2014 recipient of the Investment Management Consultants Association’s prestigious Matthew R. McArthur Award, will guide you through the major decisions that need to be made when designing a portfolio and will put you in the best position to balance the risk-reward relationship that is part of this endeavor. Portfolio Design is to be read by investment advisors. The book is rich in information about individual asset classes, including both traditional assets like stocks and bonds as well as alternative assets such as hedge funds, private equity, real estate, and commodities. So it should appeal to all sophisticated advisors whether or not they are trying to qualify for one of the major investment designations. In fact, the book is designed to be read by any advisor who is as fascinated as Marston by the investment process.

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Page Count

374

Publisher

John Wiley & Sons

Published Date

ISBN 10

1118007050

ISBN 13

9781118007051

Investing for a Lifetime

Managing Wealth for the "New Normal"

By: Richard C. Marston

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Investing for a Lifetime

Managing Wealth for the "New Normal"

By: Richard C. Marston

Investing for a Lifetime is designed to make saving and investing understandable to the investor. Wharton Professor Richard C. Marston, 2014 recipient of the Investment Management Consultants Association’s prestigious Matthew R. McArthur Award, guides an investor through the main investment decisions throughout a lifetime. Investing for a Lifetime shows: how younger investors can set savings goals how both younger and older investors can choose investment portfolios to achieve these goals how investors can sustain spending once reaching retirement. Younger and older investors alike should understand savings goals that will provide enough income to sustain spending in retirement. They should devise rates of saving that allow them to reach their goals by the time of retirement. Though retirement is often the main goal of investing, it’s not the only one. Marston discusses how funding a child’s education or saving for a down payment for a home affects overall saving. Sensible investing is also necessary for savings goals to be realized. Investing need not be complicated, but Marston explains that a diversified portfolio should include a mix of different types of U.S. stocks, foreign stocks, real estate as well as bonds. He describes each of these asset classes and shows how they fit in an investor’s portfolio. He shows how investors can monitor the performance of their portfolios by establishing benchmarks for each asset class to judge how well their investments are doing. He focuses particular attention on those investors nearing retirement. In today’s low interest rate environment, he discusses whether it is possible to fund retirement from interest and dividends alone. He shows how savings combined with Social Security can fund retirement spending. And he asks how the “New Normal” of lower returns might force investors to save more than in past decades, and to spend less in retirement than in the past. Investing for a Lifetime is for investors who want to understand more about the savings and investment process, particularly those who worry about whether their retirement savings will last a lifetime.

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Page Count

274

Publisher

John Wiley & Sons

Published Date

ISBN 10

1118900944

ISBN 13

9781118900949

International Financial Integration

A Study of Interest Differentials Between the Major Industrial Countries

By: Richard C. Marston

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International Financial Integration

A Study of Interest Differentials Between the Major Industrial Countries

By: Richard C. Marston

Currency denomination remains a barrier to full financial integration, however, since both nominal and real returns on financial instruments vary widely by currency, even between currencies tied together by the European Monetary System. This study examines relative returns in the money and bond markets of these countries, investigating whether there are systematic variations in relative returns across currencies.

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Page Count

216

Publisher

Cambridge University Press

Published Date

ISBN 10

0521599377

ISBN 13

9780521599375

Academia's Golden Age

Universities in Massachusetts, 1945-1970

By: Richard M. Freeland

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Academia's Golden Age

Universities in Massachusetts, 1945-1970

By: Richard M. Freeland

This book examines the evolution of American universities during the years following World War II. Emphasizing the importance of change at the campus level, the book combines a general consideration of national trends with a close study of eight diverse universities in Massachusetts. The eight are Harvard, M.I.T., Tufts, Brandeis, Boston University, Boston College, Northeastern and the University of Massachusetts. Broad analytic chapters examine major developments like expansion, the rise of graduate education and research, the professionalization of the faculty, and the decline of general education. These chapters also review criticisms of academia that arose in the late 1960s and the fate of various reform proposals during the 1970s. Additional chapters focus on the eight campuses to illustrate the forces that drove different kinds of institutions--research universities, college-centered universities, urban private universities and public universities--in responding to the circumstances of the postwar years.

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Page Count

545

Publisher

Oxford University Press

Published Date

ISBN 10

0195363728

ISBN 13

9780195363722

The Demand for Imports and Exports in the World Economy

By: W. Charles Sawyer,Richard L. Sprinkle

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The Demand for Imports and Exports in the World Economy

By: W. Charles Sawyer,Richard L. Sprinkle

First published in 1999, this volume responds to one of the more important issues in applied international economics: the extent to which trade flows adjust to changes in income, relative prices and exchange rates. This work surveys the literature on empirical estimation of the demand for imports and exports for the US. The book is designed to be a reference book for both academic international economists and international trade practitioners in government, international organisations and the private sector.

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Page Count

211

Publisher

Routledge

Published Date

ISBN 10

0429790430

ISBN 13

9780429790430

Managing Risk and Uncertainty

A Strategic Approach

By: Richard Friberg

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Managing Risk and Uncertainty

A Strategic Approach

By: Richard Friberg

A comprehensive framework for assessing strategies for managing risk and uncertainty, integrating theory and practice and synthesizing insights from many fields. This book offers a framework for making decisions under risk and uncertainty. Synthesizing research from economics, finance, decision theory, management, and other fields, the book provides a set of tools and a way of thinking that determines the relative merits of different strategies. It takes as its premise that we make better decisions if we use the whole toolkit of economics and related fields to inform our decision making. The text explores the distinction between risk and uncertainty and covers standard models of decision making under risk as well as more recent work on decision making under uncertainty, with a particular focus on strategic interaction. It also examines the implications of incomplete markets for managing under uncertainty. It presents four core strategies: a benchmark strategy (proceeding as if risk and uncertainty were low), a financial hedging strategy (valuable if there is much risk), an operational hedging strategy (valuable for conditions of much uncertainty), and a flexible strategy (valuable if there is much risk and/or uncertainty). The book then examines various aspects of these strategies in greater depth, building on empirical work in several different fields. Topics include price-setting, real options and Monte Carlo techniques, organizational structure, and behavioral biases. Many chapters include exercises and appendixes with additional material. The book can be used in graduate or advanced undergraduate courses in risk management, as a guide for researchers, or as a reference for management practitioners.

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Page Count

395

Publisher

MIT Press

Published Date

ISBN 10

0262528193

ISBN 13

9780262528191

Book's by Richard C. Marston

Portfolio Design

Portfolio Design

Investing for a Lifetime

Investing for a Lifetime

International Financial Integration

International Financial Integration

Academia's Golden Age

Academia's Golden Age

The Demand for Imports and Exports in the World Economy

The Demand for Imports and Exports in the World Economy

Managing Risk and Uncertainty

Managing Risk and Uncertainty

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