Understanding Asset Allocation An Intuitive Approach to Maximizing Your Portfolio (paperback)

This book is about effective asset allocation. It's not enough to rely on some investment manager's "one-size-fits-all" software to allocate your precious capital: you need to understand the process, and take control. In Understanding Asset Allocation, world-class economist, investment expert, and hedge fund manager Victor Canto shows exactly how to understand the process of assett allocation. Canto introduces a flexible, intuitive, easy-to-use approach to asset allocation that leverages powerful business cycle information and investment vehicles most investors ignore. Canto reveals what you can (and can't) learn from historical data; how to find and focus on sectors that offer exceptional opportunity; and how to manage risk far more effectively. Whether you manage your own investments or rely on an advisor, Understanding Asset Allocation will help you optimize all your asset allocation  decisions -- and maximize the returns they deliver.

Victor Canto, Ph.D., is founder of La Jolla Economics, an economics research and consulting firm based in La Jolla, California. He formerly served as chief investment officer of Calport Asset Management and president of A.B. Laffer, V. A. Canto & Associates.

Dr. Canto taught finance and business economics at the University of Southern California (USC) from 1977 to 1985 and has served as visiting professor at both the Universidad Central del Este, Dominican Republic, and the University of California at Los Angeles (UCLA).

He has authored, edited, or co-edited several books, including the landmark Foundations of Supply-Side Economics (Academic Press, 1983), as well as Monetary Policy, Taxation, and International Investment Strategy (Quorum Books, 1990); Supply-Side Portfolio Strategies (Quorum Books, 1988); and Currency Substitution: Theory and Evidence from Latin America (Springer, 1987). His work has appeared in the Wall Street Journal, Investor’s Business Daily, and many leading economic journals, including Economic Inquiry, Journal of Macroeconomics, and the Journal of International Money and Finance.

CONTENTS

Foreword

Preface

About the Author

Introduction: You Can Do Better

• 1: In Search of the Upside 
• 2: The Case for Cyclical Asset Allocation 
• 3: Thinking in Cycles 
• 4: Tax Tips 
• 5: Linking Up 
• 6: To Start, a Benchmark 
• 7: Taking It to the Tilt 
• 8: The Cyclical Asset Allocation Strategy's Versatility 
• 9:Active versus Passive Management 
• 10: Location, Location, Location? 
• 11: Eye on Elasticity 
• 12: Keeping the Wheels on the Hedge-Fund ATV 
• 13: Market Timing or Value Timing? 
• 14: Every Strategy Has Its Day 
• 15: Putting It All Together: Value Timing 

Endnotes 

Bibliography 

Glossary 

Index 

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