This week, I reviewed my first book for the Wall Street Journal: In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest by Andrew W. Lo and Stephen R. Foerster. I've included the first two paragraphs and a link to the full review below.
‘In Pursuit of the Perfect Portfolio’ Review: Models and Mavens
Surveying the most brilliant minds in the field, this financial primer considers the power and limitations of a scientific approach to investing.
Financial markets are unpredictable, prone to fads, bubbles and crashes. This frustrates academics who would prefer that the stock market obey Newtonian laws.
Andrew Lo and Stephen Foerster have written an intellectual history of modern finance theory, built around interviews with influential academics and thoughtful practitioners. Their book documents the quest for the perfect portfolio, and shows how far from a science investing remains.
Disclaimers:
This does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. This information generated by the charts, tables, and graphs presented herein is for general informational and general comparative purposes only.
This document may contain forward-looking statements that are based on our current beliefs and assumptions and on information currently available that we believe to be reasonable, however, such statements necessarily involve risks, uncertainties and assumptions, and investors may not put undue reliance on any of these statements.
References to indices or benchmarks herein are for informational and general comparative purposes only. Indexes are unmanaged and have no fees or expenses. An investment cannot be made directly in an index.
The information in this presentation is not intended to provide, and should not be relied upon for, accounting, legal, or tax advice or investment recommendations. Each recipient should consult its own tax, legal, accounting, financial, or other advisors about the issues discussed herein.
