O'Reilly logo

Multi-Asset Investing: A practical guide to modern portfolio management by Yoram Lustig

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

23. Portfolio Construction

Portfolio construction sits in the middle of the portfolio management process between the top-down asset allocation and bottom-up investment selection. Portfolio construction includes all the steps necessary to construct and manage portfolios, combining SAA, TAA, investment selection, rebalancing and risk management. Portfolio management activities can be separated into formulating investment views and implementing the investment views. Portfolio construction takes the investment views and supplements them where necessary so they are efficiently reflected within portfolios.

The portfolio constructor takes the holistic view of the entire portfolio. While an SAA strategist is focused on long-term asset allocation, ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required