商品簡介
Praise for RiskGrade Your Investments
"In the same way that the introduction of RiskMetrics raised the level of the discussion (and sometimes debate) regarding market risk measurement and management at large financial institutions, the introduction of RiskGrades and this book represent a major step in the understanding and application of risk measurement and management techniques by individual investors."
-Charles Smithson, Managing Partner, Rutter Associates, and author of Managing Financial Risk
What Others Are Saying About RiskGrades.com
Forbes' best of the web 2002:
"Savvy analysis, all free."
"A new and impressive Web-based service that promises to offer a clue to the question of how risky is your portfolio. RiskMetrics has been measuring portfolio risk for big financial institutions since 1994 and now sheds some light on investor risk. RiskGrades helps investors combine risk and return to make proper investment decisions."
-BusinessWeek
"Owning a high percentage of company stock in a retirement plan--any more than 20 percent--is one of the riskiest propositions in investing, and yet employees almost never measure this risk objectively or reduce their positions. . . . It is easy to approximate investment risk. A useful tool for measuring risk is available through RiskMetrics Group's www.riskgrades.com, a service that will measure the volatility and return of single securities or whole portfolios against all asset classes and international regions."
-Financial Times
"Without divining what exactly a fund owns, the system simply distills risk down to the likelihood of finding a severe change in its value on a given day. . . . Running a few notable funds through the rating bath can be a useful check on what an investor is putting on the line for a given dollar of investment gains."
-Barron's
"Mathematicians and economists use complex computer programs to examine the effects of different shocks on different portfolios. Such tests have been used for several years by professionals who manage multimillion-dollar investment funds. But RiskMetrics, a spinoff of J.P. Morgan Chase, is now providing similar tools for individual investors. RiskMetrics runs a Web site, www.riskgrades.com, which investors can use free of charge. The Web site allows investors to stress-test individual stocks and mutual funds as well as portfolios."
-The Wall Street Journal
作者簡介
GREGORY ELMIGER is a retail risk product specialist at the RiskMetrics Group, a New York--based company that specializes in risk management. Greg is an original member of the group at RiskMetrics that developed RiskGrades and is responsible for helping oversee the day-to-day operations and ongoing development of the RiskGrades service. Since joining RiskMetrics in 1999, Greg has actively developed an integrated library of Web-based courses, training programs, and research to help clients increase their overall level of awareness and understanding of risk. Prior to joining RiskMetrics, Greg was a vice president at Zoologic, a company that specializes in developing computer-based training software for financial professionals.
STEVE S. KIM is a trader at Marathon Asset Management, a hedge fund based in New York. Previously, Steve was an emerging markets trader at Banco Santander and part of the product team at RiskMetrics that helped develop and implement RiskGrades as an emerging standard for risk measurement. Before joining RiskMetrics, Steve was a vice president at UBS Warburg, where he was part of a team in charge of building the relative value and credit derivatives book. Steve received a bachelor of arts from the University of California at Berkeley, graduating with high honors. He holds a master's degree in international affairs from Columbia University.
ETHAN BERMAN is CEO of the RiskMetrics Group. Ethan is responsible for overall business strategy and vision for the company and spends his time engaged in business development, strategic partnerships, and customer relationships. Before spinning off RiskMetrics from J.P. Morgan, Ethan was a bond trader and eventually headed up the mortgage-backed securities business, the North American taxable sales force, and the government option and zero-coupon trading desk at Morgan. He became a managing director at J.P. Morgan, responsible for the firm's Risk Management Services Group. There he developed risk products such as RiskMetrics and CreditMetrics. In 1997, Ethan was named one of the new stars of global finance by BusinessWeek.
目次
Introduction.
Answer One Question.
The Dilemma Facing Today's Investors.
What Is Risk?
Return Is Only Half the Equation.
Buy, Hold, or Sell?
Asset Allocation.
Diversification.
Risk Tolerance.
Developing Your Portfolio's True Picture of Risk.
This Old Portfolio.
The Final Frontier.
Appendix.
Glossary.
Notes.
Index.
