Informationen zum Autor Adam Butler is an author, podcast host, and student ministry director. He graduated from Charleston Southern University and has worked with churches in various capacities including preaching, discipleship, and student ministry. He has also served with and helped lead in multiple church plants. Adam is the author of Bubblegum Gospel (2019). Klappentext Build an agile, responsive portfolio with a new approach to global asset allocation Adaptive Asset Allocation is a no-nonsense how-to guide for dynamic portfolio management. Written by the team behind Gestaltu.com, this book walks you through a uniquely objective and unbiased investment philosophy and provides clear guidelines for execution. From foundational concepts and timing to forecasting and portfolio optimization, this book shares insightful perspective on portfolio adaptation that can improve any investment strategy. Accessible explanations of both classical and contemporary research support the methodologies presented, bolstered by the authors' own capstone case study showing the direct impact of this approach on the individual investor. Financial advisors are competing in an increasingly commoditized environment, with the added burden of two substantial bear markets in the last 15 years. This book presents a framework that addresses the major challenges both advisors and investors face, emphasizing the importance of an agile, globally-diversified portfolio. Drill down to the most important concepts in wealth management Optimize portfolio performance with careful timing of savings and withdrawals Forecast returns 80% more accurately than assuming long-term averages Adopt an investment framework for stability, growth, and maximum income An optimized portfolio must be structured in a way that allows quick response to changes in asset class risks and relationships, and the flexibility to continually adapt to market changes. To execute such an ambitious strategy, it is essential to have a strong grasp of foundational wealth management concepts, a reliable system of forecasting, and a clear understanding of the merits of individual investment methods. Adaptive Asset Allocation provides critical background information alongside a streamlined framework for improving portfolio performance. Zusammenfassung Build an agile, responsive portfolio with a new approach to global asset allocation Adaptive Asset Allocation is a no-nonsense how-to guide for dynamic portfolio management. Written by the team behind Gestaltu. Inhaltsverzeichnis Acknowledgments xi PART I THE PHILOSOPHY OF SUCCESSFUL INVESTING 1 CHAPTER 1 The Most Important Concepts in Wealth Management 5 CHAPTER 2 The Narrative Is Reality 11 CHAPTER 3 Tightly Grouped Arrows Nowhere Near the Bull's-eye 15 CHAPTER 4 What Is Gestalt? 19 CHAPTER 5 Measuring the Relative Value of Portfolios 23 CHAPTER 6 The Whole Is Greater than the Sum of Its Parts 27 CHAPTER 7 Our Process Is a Financial Gestalt 29 PART II SAVING AND WITHDRAWING FROM PORTFOLIOS 31 CHAPTER 8 Beware of Those Pesky "Volatility Gremlins" 33 CHAPTER 9 It's Not Just the Destination, It's Also the Journey 37 CHAPTER 10 In a Perfect World 39 CHAPTER 11 Home on the Range 41 CHAPTER 12 Timing Is Everything 43 CHAPTER 13 Longevity Risk 47 CHAPTER 14 Plan for the Worst, Hope for the Best 49 CHAPTER 15 Sequence of Returns for Savers 53 CHAPTER 16 Individual Rate of Return for Savers 57 CHAPTER 17 Sequence of Returns for Retirees 59 CHAPTER 18 Do You Feel Lucky? 63 PART III CURRENT HIGH VALUATIONS MEAN LOWER FUTURE RETURNS 65 CHAPTER 19 A Simple Model to Forecast Equity Market Returns 67 CHAPTER 20 Implied Future Returns over the Next 20 Years 73 CHAPTER 21 How Do We Do It? 75

Klappentext
Build an agile, responsive portfolio with a new approach to global asset allocation Adaptive Asset Allocation is a no-nonsense how-to guide for dynamic portfolio management. Written by the team behind Gestaltu.com, this book walks you through a uniquely objective and unbiased investment philosophy and provides clear guidelines for execution. From foundational concepts and timing to forecasting and portfolio optimization, this book shares insightful perspective on portfolio adaptation that can improve any investment strategy. Accessible explanations of both classical and contemporary research support the methodologies presented, bolstered by the authors' own capstone case study showing the direct impact of this approach on the individual investor. Financial advisors are competing in an increasingly commoditized environment, with the added burden of two substantial bear markets in the last 15 years. This book presents a framework that addresses the major challenges both advisors and investors face, emphasizing the importance of an agile, globally-diversified portfolio.

• Drill down to the most important concepts in wealth management
• Optimize portfolio performance with careful timing of savings and withdrawals
• Forecast returns 80% more accurately than assuming long-term averages
• Adopt an investment framework for stability, growth, and maximum income An optimized portfolio must be structured in a way that allows quick response to changes in asset class risks and relationships, and the flexibility to continually adapt to market changes. To execute such an ambitious strategy, it is essential to have a strong grasp of foundational wealth management concepts, a reliable system of forecasting, and a clear understanding of the merits of individual investment methods. Adaptive Asset Allocation provides critical background information alongside a streamlined framework for improving portfolio performance.

Inhalt

Acknowledgments xi

PART I THE PHILOSOPHY OF SUCCESSFUL INVESTING 1

CHAPTER 1 The Most Important Concepts in Wealth Management 5

CHAPTER 2 The Narrative Is Reality 11

CHAPTER 3 Tightly Grouped Arrows Nowhere Near the Bull's-eye 15

CHAPTER 4 What Is Gestalt? 19

CHAPTER 5 Measuring the Relative Value of Portfolios 23

CHAPTER 6 The Whole Is Greater than the Sum of Its Parts 27

CHAPTER 7 Our Process Is a Financial Gestalt 29

PART II SAVING AND WITHDRAWING FROM PORTFOLIOS 31

CHAPTER 8 Beware of Those Pesky "Volatility Gremlins" 33

CHAPTER 9 It's Not Just the Destination, It's Also the Journey 37

CHAPTER 10 In a Perfect World 39

CHAPTER 11 Home on the Range 41

CHAPTER 12 Timing Is Everything 43

CHAPTER 13 Longevity Risk 47

CHAPTER 14 Plan for the Worst, Hope for the Best 49

CHAPTER 15 Sequence of Returns for Savers 53

CHAPTER 16 Individual Rate of Return for Savers 57

CHAPTER 17 Sequence of Returns for Retirees 59

CHAPTER 18 Do You Feel Lucky? 63

PART III CURRENT HIGH VALUATIONS MEAN LOWER FUTURE RETURNS 65

CHAPTER 19 A Simple Model to Forecast Equity Market Returns 67

CHAPTER 20 Implied Future Returns over the Next 20 Years 73

CHAPTER 21 How Do We Do It? 75

CHAPTER 22 Forecasts 80 Percent More Accurate than Always Assuming Long-Term Averages 81

CHAPTER 23 Roller Coasters Are for Amusement Parks 83

CHAPTER 24 The Last Five Years Have Been a Triumph for the Ostriches 87

PART IV AN INVESTMENT FRAMEWORK FOR STABILITY, GROWTH, AND MAXIMUM INCOME 89

CHAPTER 25 A Word about Asset Allocation 91

CHAPTER 26 The Optimization Machine 93

CHAPTER 27 Garbage In, Garbage Out 95

CHAPTER 28 All We Know Is That We Know Nothing 103

CHAPTER 29 If We Know How Assets Should Behave 107

CHAPTER 30 A Structurally Diverse Investment Universe 119

CHAPTER 31 If We Can Estimate Volatility 121

CHAPTER 32 If We Can Estimate Volatility and Correlation 125

CHAPTER 33 If We Can Estimate Volatility, Correlations, and Returns 129

CHAPTER 34 Summary of the Optimization Machine 133

CHAPTER 35 Building to Adaptive Asset Allocation 135

CHAPTER 36 Integration of Adaptive Asset Allocation 141

PART V WHY YOU SHOULD TRUST THE RESEARCH 145

CHAPTER 37 The Usefulness and Uselessness of Backtests…