Intelligent Investing: A Guide to the Practical and Behavioural Aspects of Investment Strategy Global Financial Markets

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Many of the world's investors have never undertaken a proper strategic planning exercise. As a result, asset allocation decisions get taken in a vacuum with no proper understanding of what sort of investor an organization may be, nor of its target return or investment time horizon. The result is frequently based around a "one size fits all" approach which seeks simply to copy as far as possible what other investors of similar size and geography are doing.Distinguished finance author Guy Fraser-Sampson, who has himself held senior investment positions around the world and now teaches at a leading business school, shows that the process should begin with an honest and thorough analysis of the organization itself, and then consider how its investment objectives may best be met within the confines of its resources, decision structures, and expertise. Behavioural and organizational issues will quickly rear their heads and threaten to derail the process, but the book explains how to identify and deal with these.Along the way the book offers fresh new perspectives on such well-worn concepts as liquidity and volatility, and shows that whether these should be viewed as "good" or "bad" actually varies with different circumstances.This is an insightful and thought-provoking book which recognizes that investment is more about psychology than numbers, and will change the way you view investment policy and practice.