March 2019
Beginner
720 pages
24h 22m
English
Content preview from Portfolio Management
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
CHAPTER 10Global Investing
Chapter Outline
- 10.1 Introduction
- 10.2 Investing with a Global Perspective
- 10.3 Global Investment Opportunities
- 10.4 The Impact of Currency
- 10.5 International Diversification: Failure to Deliver?
- 10.6 Implications of Globalization
- 10.7 Currency Overlays: Incentive-Compatible Performance Evaluation
10.1 INTRODUCTION
Up to this point, we have not needed to distinguish between domestic and foreign investments when introducing general portfolio management techniques. All the discussion in the prior chapters applies to both domestic and international investment perspectives. However, international investing introduces additional considerations for portfolio management. The most significant of these arise from the need to manage currency exposure. Hence much of this chapter focuses on the impact of currency on portfolio decisions.
Expanding to a global investment perspective typically requires some changes for both the client and the portfolio manager. For the client, the changes entail a new or modified investment policy statement. To implement the new mandate, the portfolio manager must revamp some aspects of the investment process. The next section discusses the necessary changes in each of these areas.
If foreign markets simply offered “more of the same,” the benefits of international investing would be somewhat limited. As we show in Section 10.3, however, this is not the case. In particular, U.S. and non-U.S. markets ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.