Today's modern portfolio theory (MPT) is light years away from the MPT of even a few years ago. It has undergone major changes in the past few decades; indeed, a new understanding of MPT has emerged, one that has a significant impact on managing asset allocation. In today's turbulent markets, MPT is even more relevant in maximizing portfolio values. Dynamic Asset Allocation interprets and integrates the developments in MPT - from the efficient-market hypothesis and indexing of past decades, to today's strategies for building and maintaining profitable portfolios. The book is filled with practical, hands-on advice for investors, including guidance on approaching investment as a risk- management task.
