Bob Litterman and the Quantitative Reource Group Goldman Sachs Asset Management This powerful book brilliantly discovers the routes to superior investment results in the roots of economic theory. In the process, it combines elegance of presentation with the highest levels of lucidity. The authors offer lessons that neither the scholar nor the investor-in- action can afford to ignore INDICE PART ONE: THEORY. Chapter 1. Introduction: Why and Equilibrium Approach? (B. Litterman). Chapter 2. The Insights of Modern Portfolio Theory (B. Litterman). Chapter 3. Risk Measurement (B. Litterman). Chapter 4. The Capital Asset Pricing Model (B. Litterman). Chapter 5. The Equity Risk Premium (M. Carhart & K. Winkelmann). Chapter 6. Global Equilibrium Expected Returns (B. Litterman). Chapter 7. Beyond Equilibrium, the Black-Litterman Approach (B. Litterman). PART TWO: INSTITUTIONAL FUNDS. Chapter 8. The Market Portfolio (R. Bandourian & K. Winkelmann). Chapter 9. Issues in Strategic Asset Allocation (K. Winkelmann). Chapter 10. Strategic Asset Allocation in the Presence of Uncertain Liabilities (R. Howard & Y. Lax). Chapter 11. International Diversification and Currency Hedging Chapter 12. The Value of Uncorrelated Sources of Return (B. Litterman). PART THREE: RISK BUDGETING. Chapter 13. Developing an Optimal Active Risk Budget (B. Litterman). Chapter 14. Budgeting Risk Along the Active Risk Spectrum (A. Alford) Chapter 15. Risk Management and Risk Budgeting at the Total Fund Level. Chapter 16. Covariance Matrix Estimation (G. De Santis, et al.). Chapter 17. Risk Monitoring and Performance Management Chapter 18. The Need for Independent Valuation (J. Mittaz). Chapter 19. Performance Attribution (P. Zangari). Chapter 20. Equity Risk Factor Models (P. Zangari). PART FOUR: TRADITIONAL INVESTMENTS. Chapter 21. An Asset-Management Approach to Manager Selection Chapter 22. Investment Program Implementation: Realities and Best Practices (J. Kramer). Chapter 23. Equity Portfolio Managemen