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Ouvrages Année : 2021

Goal-based Investing

Résumé

Goal-based investing is a new paradigm that is expected to have a profound and long-lasting impact on the wealth management industry. This book presents the concept in detail and introduces a general operational framework that can be used by financial advisors to help individual investors optimally allocate their wealth by identifying performance-seeking assets and hedging assets. Grounded in the principles of asset pricing and portfolio optimisation, the goal-based investing approach leads to the design of investment solutions that truly respond to investors' problems, which can most often be summarized as follows: secure essential goals with the highest confidence level and maximize the chances to reach aspirational goals. A series of case studies guides the reader through the implementation of goal-based investing, illustrates the efficiency of this paradigm and explains how one can accommodate a variety of implementation features such as taxes, short-sales constraints, parameter estimation risk, as well as limited customisation.
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Dates et versions

hal-03710225 , version 1 (30-06-2022)

Identifiants

Citer

Romain Deguest, Lionel Martellini, Vincent Milhau. Goal-based Investing: Theory and Practice. World Scientific, pp.324, 2021, 978-981-124-094-2. ⟨10.1142/12386⟩. ⟨hal-03710225⟩
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