Readership: Economics and finance faculty, PhD students, and MBA students. The investment community including asset managers, financial planners, the trustees and staff of pension plans and endowments, and economically/mathematically sophisticated individual investors.
Professor John Y. Campbell, Otto Eckstein Professor of Applied Economics, Harvard University, and Professor Luis M. Viceira, Assistant Professor, Harvard Business School
"Finance academics will find a lot to interest them in this book." - Times Higher Education Supplement
"Strategic Asset Allocation represents the state of the art of normative asset allocation studies. For that reason alone, pensions researchers and practitioners would do well to read it and take its lessons to heart." - Journal of Pension Economics and Finance
"This book has the potential to change fundamentally the way researchers and practitioners think about the investment and portfolio aspects of pensions. It is clearly written, concise, and explains the implications of mathematical results with care and rigor ... essential reading for anyone who works with pension funds in a research or
practical capacity ... crucial reading for those who wish to understand, and improve upon, the investment advice offered to members of defined contribution pension plans." - Journal of Pension Economics and Finance
"Uses some sophisticated mathematics such as partial differential equations and stochastic calculus but the exposition is nonetheless clear and a reader does not have to be at a very high technical level to appreciate the main ideas." - Investment & Pensions Europe
"The material covered is technically demanding, but Campbell and Viceira do an excellent job of presenting it in a way that maximises accessibility. Those in investment consulting, private client management and brokerage services should be interested in this
book." - Professional Investor
"Campbell and Viceira do an excellent job of interspersing the mathematical findings with lucid summaries of what they mean for portfolio planning and how they interrelate." - Professional Investor
"Provides a useful build-up to the logical requirements of the long-term investor." - Financial Adviser
"Useful as an academic reference." - Actuary
"In Strategic Asset Allocation John Campbell and Luis Viceira go beyond the usual capital-markets research monographs that survey a broad swath of asset pricing and investment theory. Instead, they dig deeply and insightfully into how an individual investor would best allocate wealth into broad asset classes over
a lifetime, bearing in mind age, risk preferences, changing market conditions, and uninsurable income shocks. With this clearly written synthesis of the best recent research on the topic, much of it their own, Campbell and Viceira have achieved excellence!" - Darrell Duffie, Graduate School of Business, Stanford University
2: Myopic Portfolio Choice
3: Who Should Buy Long-Term Bonds?
4: Is the Stock Market Safer for Long-Term Investors?
5: Strategic Asset Allocation in Continuous Time
6: Human Wealth and Financial Wealth
7: Investing over the Life Cycle